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Triumph Group signs Embraer deal worth $1.7 billion

Keywords: Tags  Triumph Group, Embraer, CSeries, Goodrich, Precision Casparts, Frank Haflich


LOS ANGELES — Aerospace component supplier Triumph Group Inc. has won a role building the Embraer SA’s new generation of airliners, which will be worth about $1.7 billion in business over the lifetime of the contract.

Over the next four years, Triumph’s Aerostructures-Vought Aircraft division will invest about $130 million in the second generation of São José dos Campos, Brazil-based Embraer’s E-Jet, for which it will design and build the center fuselage section III, rear fuselage section and various tail section components.
 
The Berwyn, Pa.-based company will spend approximately $25 million on the program in the fiscal year ending March 31, 2014.

The new generation of the narrow-body, medium-range Brazilian-built airliner, which is seen as a competitor to Montreal-based Bombardier Inc.’s new CSeries jet, is due to enter service in 2018.

The Embraer award “expands our presence in the jet market,” Jeffry D. Frisby, Triumph’s president and chief executive officer, said. He added that Triumph has been working “diligently” on developing its relationship with Embraer.

Triumph, which had $3.7 billion in sales for the 12 months ended March 31—including $2.8 billion in aerostructures—acquired the Primus Composites operation of Portland, Ore.-based Precision Castparts Corp. in May for an undisclosed amount.

This consists of manufacturing facilities in Farnborough, England and Rayong, Thailand which will now operate as Triumph Structures-Farnborough and Triumph Structures-Thailand. That acquisition is expected to add about $55 million in annual sales.

In March, Triumph acquired the pump and engine control business of West Hartford, Conn.-based Goodrich Corp., which is expected to bring to bring about $195 million in annual sales.

Chicago-based Boeing Co. was Triumph’s largest customer in the most recent fiscal year, accounting for 49 percent of its annual sales, documents filed with the U.S. Securities and Exchange Commission indicate.

However, no other customer accounted for more than 10 percent of the company’s business.

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