30.06.2014 16:12:28
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Triumph Group Closes Acquisition Of Hydraulic Actuation Business Of GE Aviation
(RTTNews) - Triumph Group Inc. (TGI) announced that it has completed acquisition of the hydraulic actuation business of GE Aviation. The acquired business will operate as Triumph Actuation Systems-Yakima and Triumph Actuation Systems- UK & IOM.
The business is expected to add approximately $180 million in annual revenue and to be immediately accretive to earnings. The purchase price was approximately $70 million.
Employing approximately 475 employees, the business is a technology leader in actuation systems and does extensive business with Boeing, Airbus and other major airframers. Key product offerings include complete landing gear actuation systems, door actuation, nose-wheel steering, hydraulic fuses, manifolds, flight control actuation and locking mechanisms for the commercial, military and business jet markets.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems.
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Triumph Group Inc | 17,80 | -1,11% |