Triumph Agreement with Boeing Extends Support for V-22

Triumph Group, Inc. (NYSE:TGI) announced they have been selected by Boeing to support the V-22 Osprey Multiyear 3 contract, once approved. The contract is expected to be negotiated before the end of 2017 between Bell Boeing and the U.S. Navy. The agreement extends the statement of work Triumph currently has on the V-22 Multiyear 2 contract, and also reinstates work that was previously awarded to Triumph in the first multiyear order, but was not renewed for the second.

Triumph’s Aerospace Structures site in Red Oak, Texas, and its Precision Components site in Milledgeville, Georgia, will extend deliveries of empennage, elevator, ramp extensions, ramp mounted weapons system floor boards, main landing gear doors and sponsons for the V-22 through 2024 in support of the third multiyear order. Triumph will also manufacture cargo ramps and doors included in the renewed statement of work.

“We are pleased to extend our partnership with Boeing as they negotiate another multiyear contract for the V-22 program,” said Dan Crowley, Triumph’s president and CEO. “We continue to win work on important military programs, and we are winning back work thanks to the investments made to improve efficiency, quality and schedule in our manufacturing process. Customers are taking notice, and we are strengthening our relationships with OEM partners like Boeing.”

Triumph deliveries in support of the Multiyear 3 contract will begin in 2019 and extend through 2024.