Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of Embee Incorporated, a leading commercial metal finishing provider offering more than seventy metal finishing, inspecting and testing processes primarily for the aerospace industry. The acquired business, which will operate as Triumph Processing - Embee Division, Inc. and be included in the Aerospace Systems Group, is expected to add approximately $50.0 million of annual revenue and to be immediately accretive to earnings.
Located in Santa Ana, California, Embee employs approximately 400 people. The company’s key offerings include high velocity oxy fuel (HVOF), anodize/hard anodize, paint, chrome plating, shot peen and cadmium plating. Embee holds multiple AS 9100 and NADCAP certifications as well as OEM approvals from the industry’s prime commercial and military contractors. The company also serves the specialty automotive, medical device and electronic industries.
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “We view the Embee acquisition as an unique opportunity to expand our current capabilities and to provide comprehensive processing services on precision engineered parts for hydraulics, landing gear, spare parts and electronic actuation systems. We believe this addition is an excellent strategic fit within our Aerospace Systems Group and will position us well for future growth.”
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, including statements of expected revenues or accretion to earnings. 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, 2012.
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