BERWYN, Pa.--(BUSINESS WIRE)--Triumph Group, Inc. (NYSE: TGI) announced today that it has signed a letter of intent for future collaboration with Quickstep Holdings Limited (ASX:QHL), Australia’s leading independent manufacturer of advanced carbon fiber composite components.
Triumph’s Aerospace Structures business unit and Quickstep will work closely together to actively explore and cooperate in pursuing new business opportunities, bringing together their combined capabilities to offer enhanced and highly sought-after composites solutions to customers in the U.S. and Australian aerospace and defense markets.
“Working together with Quickstep, we expect to gain access to new opportunities and create market leading discriminators that will set us apart from our competitors,” said Ian Reason, Triumph Group’s Vice President for Business Development – Military. “Composites is a growth market in which Triumph is already a well-respected supplier, heavily relied upon by both commercial and military OEMs. This collaboration will generate significant value for both companies and our customers in both the U.S. and Australia.”
“This is an exciting opportunity for Quickstep and demonstrates that our recent investments in the U.S. market are already paying off,” said Mark Burgess, CEO and Managing Director of Quickstep. “Triumph is a quality company, with a strong track record in the composite aerostructures market, and we believe we will benefit greatly from this collaboration with them.”
Triumph and Quickstep have already identified targeted future opportunities to collaborate on and this is expected to accelerate with the signing of this agreement.
Triumph Group, Inc., headquartered in Berwyn, Pa., designs, engineers, manufactures, repairs, and overhauls a broad portfolio of aircraft structures, 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.
Quickstep Holdings Limited (ASX: QHL) is the largest independent aerospace-grade advanced composite manufacturer in Australia, operating from state-of-the-art aerospace manufacturing facilities at Bankstown Airport in Sydney, NSW and a manufacturing and R&D/ process development center in Geelong, Victoria. The group employs more than 200 people in Australia and internationally.
More information about Quickstep can be found on the company’s website at http://www.quickstep.com.au.