TRIUMPH GROUP ANNOUNCES THE SALE OF ITS STUART AEROSTRUCTURES BUSINESS TO DAHER AEROSPACE

Rhea-AI Summary

Triumph Group (NYSE:TGI) announced the sale of its Stuart, Florida Aerostructures business to Daher Aerospace, signaling its exit from the structures sector. The transaction includes the transfer of approximately 400 employees and is aimed at enhancing shareholder value by focusing on systems and aftermarket services. Since 2016, Triumph has divested 16 non-core businesses as part of its transformation strategy. The deal, expected to close in the first half of the calendar year, reflects Triumph's ongoing efforts to streamline operations and strengthen its market position.

Positive

• Exit from non-core structures business enhances strategic focus.
• The sale allows Triumph to concentrate on systems and aftermarket services.
• Continued transformation with 16 non-core business divestitures since 2016.

Negative

• None.

BERWYN, Pa., Feb. 2, 2022 /PRNewswire/ -- Triumph Group (NYSE:TGI) announced today that it has entered into a definitive agreement to sell its Stuart, Florida Aerostructures business to Daher Aerospace. The sale includes the Stuart, Florida business and the transfer of Stuart employees.

"Upon closing of the sale of the Stuart operation, Triumph will have exited its structures business and is moving forward as a leading, pure-play provider of systems and aftermarket services," said Daniel Crowley, Triumph's Chairman, President and Chief Executive Officer.  "We are excited to partner with Daher who will benefit from the Stuart site's experienced workforce, significant capabilities, and strong customer relationships."

The Stuart operation specializes in the assembly of large, complex metallic structures such as wing and fuselage assemblies, and has approximately 400 employees.  Since 2016, Triumph divested 16 non-core businesses, including the Stuart business addressed in today's announcement, as part of its transformation efforts to enhance shareholder value and position the company for long-term success. 

This transaction is subject to customary closing conditions and is expected to close in the first half of the calendar year. Lazard acted as exclusive financial advisor to Triumph on the transaction.

About Triumph Group:
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs, and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about Triumph can be found on the company's website at http://www.triumphgroup.com.

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SOURCE Triumph Group

FAQ

What did Triumph Group announce on February 2, 2022?

Triumph Group announced the sale of its Stuart, Florida Aerostructures business to Daher Aerospace.

How many employees are being transferred in the Triumph Group sale?

Approximately 400 employees from the Stuart operation are being transferred.

What is the strategic goal of Triumph Group's recent business sale?

The goal is to enhance shareholder value and focus on systems and aftermarket services.

When is the sale of the Stuart business expected to close?

The sale is expected to close in the first half of the calendar year.

How many non-core businesses has Triumph Group divested since 2016?

Triumph Group has divested 16 non-core businesses since 2016.