The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Triumph Group Announces Acquisition

Monday, May 06, 2013

Triumph Group Announces Acquisition

09:41 EDT Monday, May 06, 2013

BERWYN, Pa. (Business Wire) -- Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of Primus Composites from Precision Castparts Corp. The acquired business, which consists of two manufacturing facilities in Farnborough, England and Rayong, Thailand, will operate as Triumph Structures-Farnborough and Triumph Structures-Thailand and be included in the Aerostructures Group. The business is expected to add approximately $55.0 million in annual revenue and to be immediately accretive to earnings.

Employing approximately 650 employees, Primus Composites is a global supplier of composite and metallic propulsion and structural composite components and assemblies. In addition to its composite operations, the Thailand operation also machines and processes metal components. Key customers include Airbus, Rolls Royce, Aircelle and Bombardier.

Jeffry D. Frisby, Triumph's President and Chief Executive Officer, said, “The acquisition of Primus Composites increases our global presence, expands our structural composite capabilities and enhances our customer relationships. We are pleased that the management team of Doug Fletcher, Paul Jerram and Alex Beysen will remain with Triumph and view the acquisition as an excellent strategic fit within our Aerostructures Group.”

Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.

More information about Triumph can be found on the company's website at http://www.triumphgroup.com.

Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about expectations of future annual revenues and accretion to earnings. All forward-looking statements involve risks and uncertainties which could affect the company's actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group's reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2012.

Triumph Group, Inc.
Sheila Spagnolo
Vice President
610-251-1000
sspagnolo@triumphgroup.com

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections