Triumph Group Announces Acquisition of Allied Aerospace Industries(WAYNE, Pa., Nov. 6, 2006) -- Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of Allied Aerospace Industries, Inc., a premier provider of engineering design and manufacturing solutions for complex aerospace and defense programs, from an affiliate of Kohlberg & Company, L.L.C. for an undisclosed amount of cash. The acquired business, which will operate as Triumph Aerospace Systems - Newport News and be part of the Aerospace Systems Group, is projected to add approximately $19 million of revenue for the remaining five months of fiscal year 2007 and be immediately accretive to earnings.
Allied Aerospace is headquartered in Newport News, Virginia with additional operations in Florida, California and Alabama and has a highly skilled and technically oriented workforce of approximately 160 people. The company offers a fully integrated range of capabilities, including systems engineering, conceptual engineering, mechanical design and analysis, prototype and limited-rate production, and instrumentation assembly and testing services.
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Richard C. Ill, Triumph's President and Chief Executive Officer, said, "As a leading provider of comprehensive and high value engineering solutions, the Allied Aerospace acquisition allows Triumph to meet the growing demand for outsourced technical design and engineering capabilities. We view their program management and service focus as excellent additions to the Aerospace Systems Group's core competencies. We are pleased that the management team, led by Bill Jacobson, will remain with Triumph to continue to deliver exceptional value to their customers."
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Source : Triumph Group, Inc.