BERWYN, Pa.--(BUSINESS WIRE)--
Triumph Group, Inc. (TGI) today announced that its subsidiary, Triumph Aerostructures-Vought Aircraft Division, and Airbus S.A.S. have reached an agreement to provide machined and assembled structural components for the fuselage structure which support the cabin storage bins and aircraft systems for the Airbus A350 XWB. The initial contract is worth approximately $34.0 million over the next four years. At full rate, this work package would represent approximately $20.0 million per year. Production will be performed primarily at the company’s facilities in Nashville, Tennessee and Kansas City, Missouri, with first deliveries anticipated by mid-2014.
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “This contract represents an expansion of our work with Airbus and an endorsement from them as a supplier partner. Our Nashville facility has a long history of supporting the A330/A340 and A320 programs. We are excited by our growing participation on the new A350 XWB and look forward to supporting this program for many years to come.”
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.
- Airline Industry
- Investment & Company Information
- Airbus A350 XWB
Sheila G. Spagnolo
Vice President - Tax & Investor Relations