Triumph Group, Inc. (NYSE: TGI) today announced that its subsidiary, Triumph Actuation Systems-UK & IOM, has entered into a long term agreement with Airbus S.A.S. to continue manufacturing its landing gear actuation systems including actuators, valves and uplocks for the A320ceo and A320neo programs. Production of the actuation systems will be performed at Triumph’s facility in Deeside, Flintshire, with the aftermarket support being provided from the Staverton, Gloucestershire facility. The contract is worth approximately $500 million over the life of the contract.
Daniel J. Crowley, Triumph’s President and Chief Executive Officer, said, “This long term agreement represents an exciting new chapter in our strategic partnership with Airbus and reflects the value customers place on our experience, expertise and ability to provide higher-value added solutions. Our agreement with Airbus demonstrates our shared commitment to performance and service excellence. We are intently focused on delivering on our customer commitments, driving organic growth and generating predictable profitability.”
Source: Triumph Group, Inc.
Date: Mar 29, 2016