Triumph Group Announces Agreement to Acquire GE Aviation Hydraulic Actuation Business

  Triumph Group Announces Agreement to Acquire GE Aviation Hydraulic Actuation
  Business

Business Wire

BERWYN, Pa. -- May 27, 2014

Triumph Group, Inc. (NYSE:TGI) today announced that it has entered into a
definitive agreement to acquire the hydraulic actuation business of GE
Aviation. GE’s hydraulic actuation business consists of three facilities
located in Yakima, Washington, Cheltenham, England and the Isle of Man and
will be included in the Aerospace Systems Group. The business is expected to
add approximately $180 million in annual revenue and to be immediately
accretive to earnings. The purchase price will be approximately $70 million.

Employing approximately 475 employees, the business is a technology leader in
actuation systems and does extensive business with Boeing, Airbus and other
major airframers. Key product offerings include complete landing gear
actuation systems, door actuation, nose-wheel steering, hydraulic fuses,
manifolds, flight control actuation and locking mechanisms for the commercial,
military and business jet markets.

Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “The
addition of GE Aviation’s hydraulic actuation business will be a good fit
within our Aerospace Systems segment and provide additional proprietary
systems that augment our existing hydraulic system capabilities. In addition,
this accretive acquisition furthers our strategic goals of increasing our
global footprint, optimizing our segment and customer balance, and positioning
ourselves for future growth. We are pleased that the existing management team
will remain with Triumph to continue to deliver exceptional value to their
global customers.”

The acquisition is subject to regulatory approvals and other customary closing
conditions and is expected to close in the current fiscal quarter.

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
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. 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, including statements of
expected revenues or accretion to earnings. 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, 2014.

Contact:

Triumph Group, Inc.
Sheila G. Spagnolo
Vice President, Tax & Investor Relations
610-251-1000
sspagnolo@triumphgroup.com
 
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