Triumph To Acquire GE Aviation Hydraulic Actuation Business For $70 Mln

(RTTNews) - Triumph Group Inc (TGI) Tuesday agreed to acquire the hydraulic actuation business of GE Aviation, a part of General Electric (GE), for about $70 million. The deal is expected to close in the current fiscal quarter.

GE's hydraulic actuation business consists of three facilities located in Yakima, Washington, Cheltenham, England and the Isle of Man and will be included in Triumph's Aerospace Systems Group. The business is expected to add about $180 million in annual revenue and to be immediately accretive to earnings, Triumph said.

Employing about 475 employees, the acquired business is a technology leader in actuation systems and does extensive business with Boeing, Airbus and other major airframers, Triumph said.

Jeffry Frisby, Triumph's chief executive officer, said, "The addition of GE Aviation's hydraulic actuation business will be a good fit within our Aerospace Systems segment and provide additional proprietary systems that augment our existing hydraulic system capabilities."

Triumph Group, headquartered in Berwyn, Pennsylvania, designs a portfolio of aerostructures, aircraft components, accessories, subassemblies and systems.