Triumph Group, Inc. (NYSE:TGI) today announced that its subsidiary, Triumph Aerostructures - Vought Aircraft Division, has been selected by Gulfstream Aerospace Corp. to build wing structural components for the G500/600 business jet. The contract is worth approximately $250.0 million. Production of the structural components will be performed at the company’s facilities in Nashville, Tennessee and Los Angeles, California.
In addition to the wing structural components, Triumph Actuation Systems - Connecticut has also been selected by UTC Aerospace Systems to design and build the G500/600 nose wheel steering system. The contract is worth approximately $80.0 million with the design and build being performed at the company’s facilities in Bloomfield and East Lyme, Connecticut.
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “These awards are important wins for Triumph, strengthening our long-term relationships with Gulfstream and UTC Aerospace Systems and building our presence in the business jet market. We are excited by our participation on Gulfstream’s new family of business jets and look forward to supporting this program for many years to come.”
Source: Triumph Group, Inc.
Date: Oct 29, 2014