Triumph Group Enters into Agreement to Transition Global 7500 Program to Bombardier
(Source: Triumph Group Inc.; issued Jan 24, 2019)
BERWYN, Pa. --- Triumph Group, Inc. announced today that it has entered into a definitive agreement to transfer the Global 7500 program (the “transition” or “agreement”) to Bombardier. Under the terms of the agreement, Triumph will transition responsibility for the Global 7500 wing manufacturing operations and assets to Bombardier.

Over the past five years, Triumph collaboratively matured the wing design and supply chain of the Global 7500 business aircraft and delivered more than 26 production wings to Bombardier’s Final Assembly Line. The December 2018 entry-into-service of the segment-leading Global 7500 marks the successful development of this program.

“This agreement is a pivotal step in our transformation as we continue our focus on our core Integrated Systems and Aftermarket offerings and our goal of achieving predictable profitability. This transition in our portfolio enhances our free cash flow and margins in FY’20 and beyond. We’re proud of our work to date on the Global 7500 program and we will continue to support Bombardier throughout its portfolio,” said Dan Crowley, President and CEO of Triumph Group.

To ensure a seamless transition, the companies agree that Bombardier will continue to operate the program’s production line at Triumph’s Red Oak, Texas facility and Triumph employees currently operating the Global 7500 production line in Red Oak will continue in their roles upon completion of the transition.

The transition, which is subject to certain closing conditions, is expected to close in the first calendar quarter of 2019. Under the terms of the agreement, Bombardier will assume the program’s assets and obligations upon closing. The transition is expected to have a positive impact on Triumph’s fiscal year 2020 cash flow. Additional details around the financial impact will be discussed during Triumph’s third quarter earnings call.


Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

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Triumph Group Announces the Sale of Metallics Machining Business to NWI Holdings
(Source: Triumph Group Inc.; issued Jan 24, 2019)
BERWYN, Pa. --- Triumph Group, Inc. announced today a definitive agreement to sell its metallics machining operations to NWI Holdings, an affiliate of TECT Aerospace and TECT Power. TECT Aerospace manufactures complex aerostructure components, parts and assemblies from the full spectrum of traditional and aerospace alloys, and is headquartered in Wichita, Kansas. TECT Power, headquartered in Fort Mitchell, KY, is a leading provider of complex rotating and structural airfoil components for turbine engines used in commercial aerospace, business jet, defense and industrial markets.

“The sale of Triumph’s machining businesses to NWI Holdings is another step forward in our strategic initiative to exit non-core build-to-print, contract manufacturing businesses to generate shareholder value. Triumph continues to transform its portfolio, reduce debt and position the business for reinvestment in new areas of opportunity,” said Dan Crowley, President and CEO of Triumph Group. “Our machining businesses are an excellent fit with NWI Holdings and their TECT affiliates, and we are confident they will effectively drive synergies between the two companies.”

The metallics machining operations included in the agreement are Triumph Structures – Kansas City, Inc., Triumph Structures – Wichita, Inc., Triumph Gear Systems – Toronto, ULC and Triumph Northwest (The Triumph Group Operations, Inc.) in Oregon. The businesses provide vertically integrated assemblies, high velocity machining of monolithic components and machining of hard metal components used to manufacturer a wide variety of aerostructures. Capabilities include monolithic large parts, specialty links and tubes, as well as refractory metal forging and machining. Combined, the businesses generated revenues of approximately $121 million during Triumph Group’s fiscal year ended March 31, 2018.

The transaction is subject to customary conditions and is expected to close in the next few months.

Lazard acted as exclusive financial advisor to Triumph on the transaction.


Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

NWI is affiliated by ownership with both TECT Aerospace and TECT Power. TECT Aerospace is a leading manufacturer of complex aerostructure components, parts and assemblies headquartered in Wichita, Kansas with operations in Park City, KS, Wellington KS, Kent WA and Everett Washington.

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