BERWYN, Pa.--(BUSINESS WIRE)--Triumph Group, Inc. (NYSE:TGI) announced today the sale of Triumph Structures – East Texas, Inc. to Merritt Preferred Components. The transaction was effective July 31, 2018. The East Texas division generated revenues of approximately $20 million in Triumph Group’s fiscal year ended March 31, 2018.
Structures East Texas is based in Kilgore, Texas, employs approximately 60 people, and manufactures aircraft structural components. The company specializes in complex, medium to large, conventional computer numerical control (CNC) milling, turning, grinding and assembly and serves customers in the aerospace and energy industries.
“With the sale of East Texas to Merritt Preferred Components, Triumph continues to divest non-core businesses to enable debt reduction and strategically position the company for growth,” said Triumph Group president and CEO, Dan Crowley. “I am confident that the new owners will be responsible stewards of the business and accelerate its performance as part of a more focused enterprise.”
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, 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.