Triumph Group Gains Long-Term UPS and Lufthansa Contracts.WAYNE, Pa.--(BUSINESS WIRE)--March 25, 1998--Triumph Group Inc. (NYSE NYSE See: New York Stock Exchange :TGI TGI Tribunal de Grande Instance TGI Target Group Index TGI Thank God It's Friday (US restaurant chain) TGI Tracheal Gas Insufflation TGI Tumor Growth Inhibition TGI Trato Gastrointestinal (Portugese) ) Wednesday announced its Triumph Air Repair division, Phoenix, has signed five year contracts with United Parcel Services United Parcel Service, Inc. (NYSE: UPS), commonly referred to as UPS, is the world's largest package delivery company, delivering more than 15 million packages[1] a day to 6.1 million customers in over 200 countries and territories around the world. (UPS) and Lufthansa Technik AG for repair and overhaul services to the two companies' aircraft. The UPS contract covers repair and overhaul services for the Auxiliary Power Units (APUs) and Line Replacement Units (LRUs) on UPS's Boeing 727, 757 and 767 aircraft. LRUs include such aircraft parts as oil pumps, fuel controls and combustion assemblies. The contract solidifies Triumph's position with UPS, an existing customer, for aircraft maintenance on its current and future aircraft. The Lufthansa contract, a first for Triumph, calls for Triumph to provide repair service for Lufthansa's 737 APU's and LRU's. Richard C. Ill, Triumph's president and chief executive officer, commented, "UPS and Lufthansa hold the very highest industry standards for maintenance, and we are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to be named to provide repair and overhaul services for them. "The contracts are significant in that the Lufthansa contract gives Triumph further inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ into the European market, and the UPS contract increases our position in the air cargo air cargo: see aviation. carrier market. The two companies' current fleets in the aircraft categories covered by the contracts number approximately 200 airplanes." Triumph Air Repair repairs and overhauls auxiliary power units and supplemental equipment for a wide range of aircraft. Triumph Group designs, engineers, manufactures, repairs and overhauls aircraft components. The company serves a broad, worldwide spectrum of the aviation industry, including commercial airlines and air cargo carriers Air Cargo Carriers is a cargo airline based in Milwaukee, Wisconsin, USA. It was established in 1986 and operates feeder cargo services for major express carriers in Canada, the Caribbean and the USA. Air Cargo Carriers, Inc. , as well as original equipment manufacturers of aircraft and aircraft components. The company also distributes, processes and fabricates metal products. More information about Triumph Group can be found on the World Wide Web at http://www.triumphgrp.com. CONTACT: Triumph Group Inc. John R. Bartholdson, Sr. VP/CFO, 610/975-0420 |
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