Triumph Group, Inc. today announced that it intends to combine Aerospace Structures and Precision Components into one business unit, "Aerospace Structures," effective January 1, 2018. Pete Wick, current Executive Vice President of Precision Components, will become Executive Vice President of the new combined Aerospace Structures business unit.
"Aerospace Structures and Precision Components have each made significant strides in their operational turnarounds and now have solid foundations for growth. This is the right time to combine their operations so that we can accelerate their turnaround to deliver value for our shareholders and customers," stated Daniel J. Crowley, Triumph's president and chief executive officer. "Since launching our transformation efforts, the businesses have stabilized, performance is improving, and backlog is growing. The business units' abilities to achieve key performance objectives are closely linked – they share many of the same customers and suppliers, and have substantial inter-company work on common programs. As a single business unit, we are confident that we will leverage their combined resources to make them more cost competitive and enhance performance."
Beginning with the fourth quarter of fiscal 2018, Triumph will report its financial results under the three market-focused business unit structure – Integrated Systems, Product Support and Aerospace Structures.
Contact details from our directory: | |
Triumph Group, Inc. | |
Triumph Aerospace Structures - Technology & Engineering Center - Arlington | Aircraft Structural Components, Empennages, Aircraft Doors, Nacelles, Wings, Helicopter Assemblies, Fuselage Sections, Wing Spoilers, Wing Flaps, Air Refuelling Systems, Wire Assemblies, Testing Services, Wing Spars, Fairings, Aircraft Flooring, Engineering Design Services |
Weekly news by email:
See the latest Bulletin, and sign up free‑of‑charge for future editions.
STOL variant P2012 achieves EASA certification
Kite Magnetics unveils ultra-high efficiency propeller for electric aircraft
Sweden calls on GKN for future fighter propulsion concepts
Construction begins on Boeing MQ-28 production facility in Queensland