Triumph Group Announces Acquisition
BERWYN, Pa. -- May 6, 2013
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
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.
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