Triumph Group, Inc. (NYSE: TGI) announced it signed an agreement with Boeing (NYSE:BA) to provide major structural assemblies for the 767 program. The work contracted to Triumph Aerospace Structures includes the production of horizontal stabilizers, doors, aft fuselage and center wing sections for both the 767 freighter and KC-46A Tanker variants.
“The expansion of our scope of work on the 767 program is another important stepping stone in our collaboration with Boeing,” said Peter Wick, executive vice president of Triumph Aerospace Structures. “By supporting multiple 767 configurations, we can improve efficiencies and further reduce costs in alignment with Boeing’s Partnering for Success initiative. Our recent consolidation of Triumph’s Precision Components and Aerospace Structures business units made it possible to deliver greater value to Boeing on a program that is both profitable and growing in production rate.”
Last year, Boeing and Triumph Group signed a memorandum of agreement to identify new business opportunities in support of Boeing’s Commercial, Defense, and Global Services businesses. Since then, Triumph has partnered with Boeing to extend their contract for systems work on multiple Boeing programs, including the highly successful Next-Generation 737, and won additional content on the 777X program. Triumph’s contract for composite interior components on the 737 and 737 MAX, 767, 777 and 787 programs was extended, and they also secured a variety of structural work on the V-22 program in support of multiyear three contract between Bell Boeing and the U.S. Navy.
In September 2017, Boeing selected Triumph Group as a major supplier for their offering for the U.S. Airforce T-X trainer program after teaming with Triumph on the iconic V-22 Osprey and C-17 Globemaster III programs in the past.
Additionally, Triumph’s aftermarket business, Product Support, partners with airline and freight carriers to repair flight control surfaces, doors, panels and other structural components for the 767 commercial fleet.
Source: Triumph Group, Inc.
Date: Jan 22, 2018