Welcome to our dedicated page for Triumph Group news (Ticker: TGI), a resource for investors and traders seeking the latest updates and insights on Triumph Group stock.
Triumph Group, Inc. (historically NYSE: TGI) has generated a steady flow of news related to its role in the aerospace and defense sector and its corporate transformation from a public company to a privately held business. Company press releases and SEC filings describe Triumph as a Radnor, Pennsylvania-based manufacturer that designs, develops, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, subsystems, components and spare parts for OEMs and military and commercial aircraft operators worldwide.
News coverage for Triumph has included quarterly and annual financial results, where the company reported net sales, operating income and performance across commercial OEM, military OEM, commercial aftermarket, military aftermarket and non-aviation revenue categories. These releases have highlighted trends in aftermarket demand, OEM production volumes and backlog, as well as the company’s focus on IP-based OEM and aftermarket business and efforts to improve its Interiors operations.
Operational updates have featured program and contract announcements, such as Triumph Systems, Electronics and Controls extending and expanding its role as a strategic supplier to BAE Systems and the U.S. Army on the M777 Lightweight Howitzer platform, and Triumph Actuation Products and Services reporting record aftermarket shipments in support of Boeing 787 and Airbus A380 landing gear overhaul activity. Additional news has covered partnerships involving advanced manufacturing technologies, including collaboration with Divergent Technologies to qualify manned aircraft components produced using the Divergent Adaptive Production System.
Corporate and capital markets news has focused on Triumph’s acquisition by affiliates of Warburg Pincus and Berkshire Partners, the related merger agreement, and subsequent steps to delist its common stock from the New York Stock Exchange and terminate SEC registration. Updates from S&P Dow Jones Indices have also noted Triumph’s removal from the S&P SmallCap 600 index in connection with this transaction. Investors and observers using this news feed can review historical earnings releases, program announcements, partnership news and transaction-related disclosures to understand Triumph’s evolution and its position in aerospace and defense supply chains.
Triumph Group announced the appointment of Tom Blakely as Chief Technology Officer, effective immediately. Reporting to Nick Drazic, Blakely brings over four decades of experience in military and commercial aircraft development. He will lead Triumph's Innovation and Technology Council and manage R&D efforts across the company's 36 factories. His previous roles include Deputy Head of Engineering at Mitsubishi Heavy Industries and extensive experience at Lockheed Martin. This strategic hire aims to enhance Triumph's focus on proprietary components and services for military and commercial platforms.
Triumph Group [NYSE: TGI] has secured a five-year contract from Bell Textron for the supply of mechanical flight controls for various commercial helicopter models including the Bell 429, 412, and 407. This contract is an indefinite delivery/indefinite quantity (ID/IQ) award starting this year. The work will be conducted at Triumph's facilities in North Wales, Pennsylvania, and Shelbyville, Indiana, through 2024. Triumph aims to maintain its strong supplier relationship with Bell, enhancing its position in the aerospace sector and exploring growth opportunities in additional markets.
Triumph Group, Inc. (NYSE:TGI) announced that its Grand Prairie, Texas facility has achieved AS9110 certification for aerospace maintenance, repair, and overhaul (MRO) management systems. This certification confirms compliance with FAA and EASA regulations, indicating Triumph's commitment to safety and product quality. The Grand Prairie site is one of six certified Triumph facilities, enhancing the company’s ability to provide comprehensive repair and overhaul support for various aircraft accessories. Triumph operates 14 repair stations catering to military and commercial clients.