TRIUMPH SIGNS LONG TERM AGREEMENT WITH LOCKHEED MARTIN ON F-16
On October 27, 2022, Triumph Group (NYSE: TGI) announced a significant agreement with Lockheed Martin to manufacture the brake valve assembly for the F-16 Fighting Falcon aircraft.
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Rhea-AI Summary
On October 27, 2022, Triumph Group (NYSE: TGI) announced a significant agreement with Lockheed Martin to manufacture the brake valve assembly for the F-16 Fighting Falcon aircraft. This production will take place at Triumph's facility located in Valencia, California. Triumph's Actuation Products & Services division will continue its role as the OEM, providing essential hardware and operational support for the global fleet of F-16 aircraft, which are known for their mission capabilities.
Positive
- Secured a long-term agreement with Lockheed Martin for F-16 brake valve assembly.
- Continued role as OEM enhances brand reputation in aerospace and defense.
- Manufacturing to be conducted at Triumph's facility in Valencia, California.
Negative
- None.
Details
News Market Reaction – TGI
The recorded move for TGI in the trading session of this news was +1.59%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BERWYN, Pa., Oct. 27, 2022 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) (NYSE: TGI) today announced that its Actuation Products & Services business has been awarded an agreement from Lockheed Martin to manufacture the brake valve assembly for the F-16 Fighting Falcon aircraft. This work will be performed at TRIUMPH's facility in Valencia, California.
"TRIUMPH is very pleased to continue our long-standing position as the OEM for the Lockheed Martin F-16 brake manifold assembly," said Mike Boland, President of TRIUMPH Actuation Products & Services. "The F-16 is one of the most proven and mission-capable aircraft in use today for countries around the world, and TRIUMPH is proud to continue our role on the program by providing production hardware and operational support for the global fleet."
TRIUMPH Actuation Products & Services is a leader in design, development, manufacture and support of complex electro-hydraulic and mechanical systems and equipment for the aerospace and defense industry. Products include actuators, pumps, motors, reservoirs, control valves and a wide range of mechanical controls for commercial and military aircraft. Our Actuation Products & Services business services customers around the world with ten manufacturing sites across North America and Europe.
TRIUMPH, headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs, and overhauls a broad portfolio of aerospace and defense systems and components. 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.
View original content:https://www.prnewswire.com/news-releases/triumph-signs-long-term-agreement-with-lockheed-martin-on-f-16-301660624.html
SOURCE Triumph Group
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