Triumph Group Acquires Primus Composites

The acquired company's two manufacturing facilities in Farnborough, U.K. and Rayong, Thailand, will operate as Triumph StructuresFarnborough and Triumph StructuresThailand, and will be folded into the Triumph Group's Aerostructures Group.

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Triumph Group Inc. (Berwyn, Pa.) has acquired Primus Composites (Bellevue, Wash.) from Precision Castparts Corp. (Portland, Ore.). The transaction, announced May 5, covers two manufacturing facilities, one in Farnborough, England and the other Rayong, Thailand, will operate as Triumph StructuresFarnborough and Triumph StructuresThailand and be included in the Triumph Group's Aerostructures Group. The business is expected to add approximately $55 million in annual revenue and to be immediately accretive to earnings.

Primus Composites is a global supplier of composite and metallic propulsion and structural composite components and assemblies. The company employs approximately 650 employees. In addition to its composite operations, the Thailand operation also machines and processes metal components. Key customers include Airbus, Rolls Royce, Aircelle and Bombardier.

Jeffry D. Frisby, Triumph’s president and CEO, said, “The acquisition of Primus Composites increases our global presence, expands our structural composite capabilities and enhances our customer relationships. We are pleased that the management team of Doug Fletcher, Paul Jerram and Alex Beysen will remain with Triumph and view the acquisition as an excellent strategic fit within our Aerostructures Group.”

The Triumph Group 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 commercial, regional, business and military aircraft and aircraft component OEMs, as well as commercial and regional airlines and air cargo carriers.

For more information, contact Sheila Spagnolo, vice president, Tel.: (610) 251-1000; E-mail: sspagnolo@triumphgroup.com; or visit the Triumph Group Web site at http://www.triumphgroup.com.