Triumph Group, Inc. (NYSE:TGI) today announced that its subsidiary, Triumph Aerostructures-Vought Aircraft Division, has been selected to design and build the center fuselage section III, rear fuselage section and various tail section components (rudder and elevator) for Embraer’s second-generation E-Jet family. The contract is worth approximately $1.7 billion over its lifetime. The company’s investment in the program, including capital and design activities, will be approximately $130 million which will be spread over the next four years. Planned to enter service in 2018, the program is expected to launch later this year. Spending in FY 2014 will be approximately $25 million.
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “This is a significant win for Triumph and expands our presence in the jet market. We have been working diligently on developing our relationship with Embraer and are extremely pleased to have been selected to build major structural components for their next-generation of jets. We look forward to supporting this program.”
Source: Triumph Group, Inc.
Date: Jun 10, 2013