Aircraft Parts Maker Triumph Buys Merritt Tool

WAYNE, Penn. (AP) — Aircraft parts manufacturer Triumph Group Inc. said Friday it acquired a Texas manufacturer of aircraft structural components.

Kilgore, Texas-based Merritt Tool Company Inc. will operate as a a part of Triumph Aerospace Systems Group. It is expected to add about $30 million of revenue for fiscal year 2010, Triumph officials said in a statement.

Merritt Tool, which employs 120 people, specializes in precision machining primarily for commercial and military aerospace programs.

"We are pleased to have acquired Merritt Tool and view this as an opportunity to leverage our current portfolio of aerospace structural manufacturing capabilities and expand the products and services we offer to our major airframe customers," said Triumph Chief Executive Richard C. Ill in a statement.

The Merritt division will continue to be led by A.P. Merritt Jr. and his management team, Ill said.

Wayne, Penn.-based Triumph Group designs, engineers, manufactures, repairs and overhauls aircraft components and accessories. The company serves original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.

Shares of Triumph Group fell 1 percent, or 38 cents, to close at $35.77.