Triumph Group, Inc. (NYSE:TGI) has announced that it has reached an agreement in principle with Gulfstream Aerospace that would optimize Triumph´s role in the supply chain of Gulfstream´s business jet wings, edges, stringers, skins, flaps, and composite components, the company said.
The agreement includes a plan for reallocation of work between Triumph´s Tulsa, Oklahoma, and Nashville, Tennessee, facilities and Gulfstream´s Savannah, Georgia, operation based on where the work is best performed.
Specifically, the G650 wing box and wing completion work, which are now co-produced across three facilities at both companies, are planned for consolidation into Gulfstream´s structures center of excellence in Savannah. Triumph will maintain its role as the supply chain integrator on the program. In addition to G650 re-location, the parties are exploring opportunities for the supply of metal and composite structures on G500 and G600 programs to better leverage Triumph´s capabilities.
These strategic actions are expected to optimize efficiencies across all three Gulfstream programs. Triumph anticipates that these actions, once executed, will have a positive impact on the company´s long-term financial performance.
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.