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Triumph Group assumes production of Gulfstream G650, G280 wing programs.

M2 EQUITYBITES-January 7, 2015-Triumph Group assumes production of Gulfstream G650, G280 wing programs

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Triumph Group, Inc. (NYSE: TGI) said it has announced the closing of its agreement with Spirit AeroSystems Holdings, Inc. (NYSE: SPR) to take over production of the Gulfstream G650 and G280 wing programs located in Tulsa, Oklahoma, effective December 30, 2014.

The business will operate as Triumph Aerostructures-Vought Aircraft Division-Tulsa and will be included in the Aerostructures Group segment. Under the terms of the agreement, Triumph received USD160 million in cash plus assets required to run the business from Spirit to cover the anticipated future cash flow needs of the programs, with no additional capital contributions expected by Triumph.

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 is at www.triumphgroup.com.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U7OK
Date:Jan 7, 2015
Words:198
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