BERWYN, Pa., May 18, 2021 /PRNewswire/ -- Triumph Group (NYSE:
TGI) announced today that it has secured multiple
contract extensions with Boeing Commercial Airplanes, which will
extend their collaboration on critical system components. The
agreements extend Triumph's position as a top tier supplier of
hydraulic components across multiple Boeing programs. The contracts
highlight Triumph's strategic focus on high-value systems offerings
including actuation, hydraulic and fueling systems, geared
solutions, as well as maintenance, repair and overhaul offerings,
and demonstrate Triumph's progress in improving operational
execution and reshaping its portfolio around proprietary
solutions.
The three contract extensions, which were signed in the last
month, secure Triumph's position as a systems provider for Boeing
platforms. Under the contracts, Triumph's Actuation Products &
Services operating company will manufacture the components at three
of its U.S. based sites.
Triumph's facility in Clemmons, North
Carolina will begin work later this year to fulfill an
extended long-term multi-year agreement for hydraulic actuation
components for complex landing gear valves and thrust reverser cowl
doors for the single aisle platforms.
Triumph Actuation Products & Services has secured a
multi-year contract extension to supply Boeing 787 Dreamliner
landing gear components. The follow-on contract is for hydraulic
locking actuators, transducers and control valve components on all
787 variants. Triumph has supplied these systems and components for
the 787 aircraft since the program's inception and provides related
repair and overhaul maintenance for other supplier partners and
operators. The contract extension reaffirms Triumph's commitment to
the 787 program and extends the company's strong working
relationship with Boeing for years to come.
Lastly, the Triumph site in Valencia,
California has secured a multi-year contract extension to
provide hydraulic accumulators, manifolds as well as steering and
locking actuators for multiple legacy platforms. The Valencia site achieved a Silver Delivery
Rating from Boeing and maintained it for 12 consecutive months. The
contract bolsters the Triumph site's existing business base, and
highlights signs of a commercial aviation recovery.
"We are proud to continue our longstanding relationship with
Boeing and support their various commercial programs as rates
rebound following the pandemic," said Scott
Ledbetter, President of Triumph Actuation Products &
Services operating company.
William Kircher, Executive Vice
President for Triumph Group added, "Triumph's proprietary actuation
products and services are expected to boost our revenue and
profitability in the years to come."
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 www.triumphgroup.com.
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SOURCE Triumph Group