Triumph Group, Inc. (NYSE:TGI) today announced that its subsidiary, Triumph Aerostructures-Vought Aircraft Division, and Airbus S.A.S. have reached an agreement to provide machined and assembled structural components for the fuselage structure which support the cabin storage bins and aircraft systems for the Airbus A350 XWB. The initial contract is worth approximately $34.0 million over the next four years. At full rate, this work package would represent approximately $20.0 million per year. Production will be performed primarily at the company’s facilities in Nashville, Tennessee and Kansas City, Missouri, with first deliveries anticipated by mid-2014.
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “This contract represents an expansion of our work with Airbus and an endorsement from them as a supplier partner. Our Nashville facility has a long history of supporting the A330/A340 and A320 programs. We are excited by our growing participation on the new A350 XWB and look forward to supporting this program for many years to come.”
Triumph Aerostructures-Vought Aircraft Division designs, tests and manufactures aerostructures for commercial, military and business jet aircraft. Products include fuselage sections, wings, empennages, nacelle structures and helicopter cabins.
Source: Triumph Group, Inc.
Date: Jan 29, 2014