Triumph Group, Inc. (NYSE:TGI) today announced that its subsidiary, Triumph Insulation Systems, has entered into a long term contract with DAHER-SOCATA, a subsidiary of DAHER Group, to provide the full life cycle of thermal and acoustic insulation systems for the international aerospace market.
The cooperation agreement will start in Europe on the A320, A330 and A350 programs for which the two equipment manufacturers have contracts to supply and install insulation systems to Airbus. Triumph and DAHER-SOCATA will provide the insulation systems engineering on these three programs. The systems manufacturing will be shared with Triumph producing large volumes from its existing operations in Beijing, China, and DAHER fabricating the small series of systems at its facility in St Nazaire, France. The installation of the systems into the aircraft will occur directly in the final assembly lines in St Nazaire and Hamburg.
Richard C. Ill, Triumph’s Chairman and Chief Executive Officer, said, “We are very excited about the expansion of our business with Airbus and having DAHER as a partner is key to that endeavor. Triumph views this business venture as being a next logical step in providing what the airframe manufacturers expect from their major suppliers and believe that this is the first of many collaborative efforts that may be considered and achieved with DAHER.”
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.More information about Triumph can be found on the company’s website at http://www.triumphgroup.com. Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties which could affect the company’s actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group’s reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2011.