Triumph Group, Inc. (NYSE: TGI) has announced all 36 of its factories have returned to safe operational status, following closures related to government-mandated shutdowns, COVID-19 cases, and temporary closure of customer facilities, the company said.
The State of Baja in Mexico approved aerospace factories, including Triumph´s Mexicali interiors operation that supports Boeing and Airbus deliveries, to return to work.
Employees have returned to work at levels consistent with customer demand.
Selected sites with stay at home orders for non-essential salaried personnel will return to work in waves consistent with local government approvals.
The Company reported further safeguards are being made available to its sites.
Given the latest Boeing, Airbus and engine provider demand rates that provide sustaining levels of production at Triumph factories, Triumph has recalled approximately 2,000 of the previously announced 4,200 furloughs to resume production of OEM hardware.
The previously announced 700-person reduction in force of salaried positions as part of its austerity measures has been completed. Triumph will reduce headcount to match the near-term forecast and conserve cash while preparing for the recovery in production rates and MRO demand.
To reduce inventory and working capital expenditures, the Company is adjusting its supply chain demand consistent with updated OEM production and aftermarket forecasts received in early May.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures.