BERWYN, Pa.--(BUSINESS WIRE)--Triumph Group, Inc. (NYSE:TGI) finalized two contracts with SNC-Lavalin valued at approximately $48 million ($62 million CAD) to supply complex safety-critical components in support of the Ontario Darlington Retube & Feeder Replacement program.
Under the contracts, Triumph’s facility in Toronto will supply end fittings and shield plugs for the nuclear pressure vessels for all four of the Darlington Nuclear Generating Stations Reactors, located on the north shore of Lake Ontario. The components will be delivered over the next seven years.
“These contracts demonstrate the trust customers place on our production of safety critical, close-tolerance parts,” said Rick Rosenjack, executive vice president for Triumph’s Precision Components business unit. “Triumph was the first company to attain part qualification to manufacture these critical components for this project, and SNC-Lavalin saw value in our agility and experience. We look forward to supporting SNC-Lavalin and the Canadian reactor refurbishment program.”
“Triumph is a key supplier to SNC-Lavalin in our support of the Darlington RFR project,” said Preston Swafford, chief nuclear officer & executive vice-president, Nuclear, SNC-Lavalin. “These components will help ensure the Darlington CANDU reactors continue to provide Ontario with safe, reliable, affordable and low-carbon energy for another 30 years.”
About 15 percent of Canada's electricity comes from nuclear power, with 19 reactors mostly in Ontario providing 13.5 GWe (gigawatt electricity) of power capacity. To meet current and future electricity needs, provincial governments and power companies made the decision to extend the operating life of a number of reactors by refurbishing them. Four of the units are planned to undergo major refurbishments over the next 10 years.
Ontario Power Generation recently acknowledged Triumph with a plaque for their involvement as a partner in the Darlington Retube & Feeder Replacement program. The Toronto-based Triumph business has supported the Canadian utility provider for 20 years, outfitting pressure vessel end fittings as nuclear power plants were built across Ontario.
Triumph Group, Inc., headquartered in Berwyn, Pa., designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
More information about Triumph can be found on the company’s website at http://www.triumphgroup.com.
Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements about aggregate revenue. All forward-looking statements involve risks and uncertainties which could affect the company’s actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group’s reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2016.