Press release from Business Wire
Triumph Group Selected to Design and Build Fuselage Sections and Other Components for Embraer Second Generation of E-Jets
Friday, June 07, 2013
Triumph Group Selected to Design and Build Fuselage Sections and Other Components for Embraer Second Generation of E-Jets10:00 EDT Friday, June 07, 2013
BERWYN, Pa. (Business Wire) -- Triumph Group, Inc. (NYSE:TGI) today announced that its subsidiary, Triumph Aerostructures-Vought Aircraft Division, has been selected to design and build the center fuselage section III, rear fuselage section and various tail section components (rudder and elevator) for Embraer's second-generation E-Jet family. The contract is worth approximately $1.7 billion over its lifetime. The company's investment in the program, including capital and design activities, will be approximately $130 million which will be spread over the next four years. Planned to enter service in 2018, the program is expected to launch later this year. Spending in FY 2014 will be approximately $25 million.
Jeffry D. Frisby, Triumph's President and Chief Executive Officer, said, “This is a significant win for Triumph and expands our presence in the jet market. We have been working diligently on developing our relationship with Embraer and are extremely pleased to have been selected to build major structural components for their next-generation of jets. We look forward to supporting this program.”
Triumph Aerostructures-Vought Aircraft Division designs, tests and manufactures aerostructures for commercial, military and business jet aircraft. Products include fuselage sections, wings, empennages, nacelle structures and helicopter cabins.
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 revenues and program investments. 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, 2013.
Triumph Group, Inc.
Sheila G. Spagnolo