Triumph Group Signs Four Year Contract with BAE Systems(WAYNE, Pa., Oct 26, 2005) -- Triumph Group, Inc. (NYSE:TGI) announced today that its subsidiary, Triumph Structures-Los Angeles, Inc., has been awarded a Full Rate Production contract by BAE Systems, Inc. to supply 495 M777 155mm Lightweight Howitzer Gun Body units. This award has an estimated value of $53 million over the next four years.
The M777 155mm Lightweight Howitzer is a towed artillery weapon, designed to provide fire support for light and medium U.S. Forces. Triumph Structures-Los Angeles has been providing the gun body units to BAE Systems under a Low Rate Initial Production ("LRIP") contract of 94 guns.
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Richard C. Ill, Triumph's President and Chief Executive Officer, said, "We are very pleased that BAE Systems views Triumph as a strategic supplier to this program and awarded us this contract as a result of our strong performance during the LRIP phase of the project. We look forward to supporting this program over the next four years."
Triumph Structures-Los Angeles, Inc., with locations in City of Industry, Chatsworth and Walnut, California, manufactures long structural components, such as stringers, cords, floor beams and spars for the aviation industry. The company also machines, welds and assembles large complex precision structural components.
Triumph Group, Inc., headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and accessories. The company serves a broad, worldwide spectrum of the aviation industry, including commercial and regional airlines, air cargo carriers, as well as original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components.
Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties which could affect the company's actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph's reports filed with the SEC, including our Annual Report on Form 10-K for the year ended March 31, 2005.
Triumph Group, Inc.
Source : Triumph Group, Inc.