Triumph Group, Inc. is an international supplier of aerospace components and systems. Based in Wayne, Pennsylvania , USA, Triumph engineers, designs, and manufactures aircraft components, systems and accessories. Several services and products are offered through three of their operating organizations, Triumph Aerospace Systems Group, Triumph Aerostructures and Triumph Aftermarket Services Group.
Triumph Group serves original equipment manufacturers of regional, commercial, military and business aircraft and components, as well as air cargo carriers and regional and commercial airlines.
Triumph Group, Inc., was formed out of the Alco Diversified Services division of Alco Standard Corporation. Most of its companies produce or repair aircraft components. Triumph takes a two-pronged approach to weathering the severe cycles of the aviation industry. During boom years, the group's part-making companies fare well supplying original equipment manufacturers. In down times, airlines fly older planes longer, which boosts business at Triumph's overhaul and repair facilities. Clients include Boeing (the largest), Gulfstream, Bombardier, Southwest Airlines, and United Air Lines. Commercial aircraft account for 70 percent of the company's business.
Triumph Group, Inc. (Triumph), incorporated in 1993, designs, engineers, manufactures, repairs, overhauls and distributes aircraft components, such as hydraulic, mechanical and electromechanical control systems, aircraft and engine accessories, structural components and assemblies, non-structural composite components, thermal acoustic insulation systems, auxiliary power units (APUs), avionics and aircraft instruments. The Company offers a variety of products and services to the aerospace industry through two groups of operating businesses: Triumph Aerospace Systems Group, whose companies design, engineer and manufacture a range of components, assemblies and systems for the aerospace original equipment manufacturers (OEMs) market, and Triumph Aftermarket Services Group, whose companies serve aircraft fleets, notably commercial airlines, the United States military and cargo carriers, through the maintenance, repair and overhaul of aircraft components and accessories manufactured by third parties. Effective March 1, 2010, the Company acquired Fabritech, Inc. Effective January 29, 2010, the Company’s wholly owned subsidiary, Triumph Instruments - Burbank, Inc. acquired DCL Avionics, Inc. In June 2010, the Company acquired Vought Aircraft Industries, Inc. from The Carlyle Group.
The Company’s Aerospace Systems Group includes companies performing manufacturing, machining and forming processes for a range of structural components, as well as assemblies and subassemblies. This group services a range of aerospace customers, which include aerospace OEMs and the top-tier manufacturers who supply them and airlines, air cargo carriers, and domestic and foreign militaries. The products that companies within this group design, engineer, build and repair include acoustic insulation systems, aircraft and engine mounted accessory drives, cockpit control levers, composite and metal bonding, composite ducts and floor panels, control system valve bodies, exhaust nozzles and ducting, floor beams, heat exchangers, high lift actuation, landing gear actuation systems, landing gear components and assemblies, main engine gear box assemblies, primary and secondary flight control systems, stretch-formed edges and fuselage skins, windows and window assemblies, and wing spars and stringers.
Triumph’s Aftermarket Services Group performs maintenance, repair and overhaul services (MRO) and supplies spare parts of various types of cockpit instruments, and gauges for the commercial and military aviation industry and primarily services the airline and air cargo carrier customers. This group also designs, engineers, manufactures, repairs and overhauls aftermarket aerospace gas turbines engine components, offers MRO solutions, leasing packages, exchange programs and parts and services to airline, air cargo and third party overhaul facilities. Companies in its aftermarket services group repair and overhaul various components for the aviation industry, including air cycle machines; APUs; cockpit instrumentation; constant speed drives; engine and airframe accessories; flight control surfaces; integrated drive generators; mechanical, hydraulic and electrical hardware items including gearboxes; cargo hooks and vibration absorbers; nacelles; remote sensors; thrust reversers; blades and vanes; cabin interior panes, shades, light lenses and other plastic components; combustors; stators; transition ducts; sidewalls; light assemblies, and overhead bins.
DV Industries, a metal finishing company, and DG Industries, Inc., a machining company, were acquired in autumn 1998. Triumph made its first foray into Europe in December 1998, when it acquired the British firm Chase Aerospace Limited. The company serviced auxiliary power units (APUs) and other equipment for the commercial aviation industry. It was expected to contribute $6 million per year to Triumph's revenues. Although Triumph usually highly valued the goodwill associated with existing company names, it announced it was renaming this acquisition to Triumph Air Repair (Europe) Limited. Soon afterward, Triumph bought Hartford Tool and Die Co., Inc., a maker of engine parts.
At the same time, falling share prices prompted a stock buyback. Ill allayed concerns about projected declines in Boeing's aircraft production. He stated that downturns in the manufacturer's larger aircraft programs were to be offset by more work on next generation 737s. Soon afterward, Boeing awarded Triumph Air Repair its largest contract ever, a one year, $7.4 million agreement to service APUs and line replaceable units for Air Force KC-10 tankers. With Boeing's eight annual options to renew, the deal had the potential of increasing to a value of more than $67 million. Boeing had acquired McDonnell Douglas, the original maker of the KC-10, an aerial refueling version of the DC-10 airliner. Most of Triumph Air Group's work had been related to Boeing 727s and 737s.
The group acquired aggressively, continuing its strategy of becoming a comprehensive MRO provider. It bought four companies in 1998 alone. In early 1999, its aviation subsidiaries numbered 18. Triumph had total group sales of $400 million for the year ending March 31, 1999. Net profits were about $33 million and employees numbered more than 2,000, including 15 at headquarters.
Triumph bought a maker of oversized aircraft components in May 1999. Ralee Engineering Co., based in City of Industry, California, gave the group the capability of producing virtually all of a commercial aircraft's structural parts. Ralee had revenues of about $20 million a year.
Operating profits for the aviation group were up by nearly half in fiscal year 1999, to $58.6 million. Net sales increased
1986:Alco Standard Corporation executives consider selling Triumph Group.
1993:Triumph Group spun off from Alco Standard in a leveraged management buyout.
1996:IPO raises $50 million.
1998:Triumph enters European market through purchase of Chase Aerospace Limited.
36 percent to $328.6 million. Triumph had acquired six businesses during this period, and invested $20 million in its existing ones. Triumph's manufacturing divisions produced honeycomb flight control surfaces, control systems, and machined metal parts. About half of the Triumph Group's revenues were derived from aircraft maintenance. Its divisions serviced virtually every commercial aircraft system except for cabins, main landing gears, radios, and engines, or the heaviest of maintenance checks. The maintenance, repair, and overhaul (MRO) market was valued at $25 billion. The world commercial airliner fleet had doubled in size in the previous twenty years. The Federal Aviation Administration ordered airlines to bring aircraft to 'Stage III' compliance by the end of 1999--essentially vectoring more planes towards overhauls.
Principal Subsidiaries:A. Biederman, Inc.; Advanced Materials Technologies, Inc.; Aerospace Technologies, Inc.; DG Industries, Inc.; DV Industries; Frisby Aerospace; Great Western Steel; HTD Aerospace, Inc.; Hydro-Mill Co.; JDC Company; K-T Corporation; Kilroy Steel, Inc.; Kilroy Structural Steel; L.A. Gauge Co., Inc.; Lamar Electro-Air Corporation; Northwest Industries; Nu-Tech Industries, Inc.; Ralee Engineering Corp.; Special Processes of Arizona, Inc.; Stolper-Fabralloy Co. LLC; Triumph Air Repair; Triumph Controls, Inc.
Principal Competitors:AAR Corp.; Aviation Sales Co.
OVERALL
Beta: 1.19
Market Cap (Mil.): $2,378.75
Shares Outstanding (Mil.): 24.23
Annual Dividend: 0.16
Yield (%): 0.16
FINANCIALS
TGI Industry Sector
P/E (TTM): 15.93 23.78 18.80
EPS (TTM): 20.58 -- --
ROI: 6.20 4.81 4.19
ROE: 12.23 16.98 7.33
Statistics:
Public Company
Incorporated: 1993 as Triumph Group Inc.
Employees: 2,600
Sales: $400.11 million (1999)
Stock Exchanges: New York
Ticker Symbol: TGI
NAIC: 336413 Other Aircraft Parts and Auxiliary Equipment Manufacturing
Name Age Since Current Position
Richard Ill 67 2009 Chairman of the Board, Chief Executive Officer
Jeffry Frisby 55 2009 President, Chief Operating Officer
M. David Kornblatt 50 2009 Chief Financial Officer, Executive Vice President, Treasurer
John Wright 56 2004 Vice President, General Counsel, Secretary
Kevin Kindig 53 1999 Vice President, Controller
Elisabeth Barrett 2011 Vice President of Human Resources
Richard Gozon 72 1993 Director
Claude Kronk 78 1993 Director
Joseph Silvestri 48 2008 Director
George Simpson 68 2002 Director
Paul Bourgon 53 2008 Director
Elmer Doty 56 2010 Director
Ralph Eberhart 64 2010 Director
Adam Palmer 37 2010 Director
Address:
Four Glenhardie Corporate Center
1255 Drummers Lane, Suite 200
Wayne, Pennsylvania 19087
U.S.A.
Triumph Group serves original equipment manufacturers of regional, commercial, military and business aircraft and components, as well as air cargo carriers and regional and commercial airlines.
Triumph Group, Inc., was formed out of the Alco Diversified Services division of Alco Standard Corporation. Most of its companies produce or repair aircraft components. Triumph takes a two-pronged approach to weathering the severe cycles of the aviation industry. During boom years, the group's part-making companies fare well supplying original equipment manufacturers. In down times, airlines fly older planes longer, which boosts business at Triumph's overhaul and repair facilities. Clients include Boeing (the largest), Gulfstream, Bombardier, Southwest Airlines, and United Air Lines. Commercial aircraft account for 70 percent of the company's business.
Triumph Group, Inc. (Triumph), incorporated in 1993, designs, engineers, manufactures, repairs, overhauls and distributes aircraft components, such as hydraulic, mechanical and electromechanical control systems, aircraft and engine accessories, structural components and assemblies, non-structural composite components, thermal acoustic insulation systems, auxiliary power units (APUs), avionics and aircraft instruments. The Company offers a variety of products and services to the aerospace industry through two groups of operating businesses: Triumph Aerospace Systems Group, whose companies design, engineer and manufacture a range of components, assemblies and systems for the aerospace original equipment manufacturers (OEMs) market, and Triumph Aftermarket Services Group, whose companies serve aircraft fleets, notably commercial airlines, the United States military and cargo carriers, through the maintenance, repair and overhaul of aircraft components and accessories manufactured by third parties. Effective March 1, 2010, the Company acquired Fabritech, Inc. Effective January 29, 2010, the Company’s wholly owned subsidiary, Triumph Instruments - Burbank, Inc. acquired DCL Avionics, Inc. In June 2010, the Company acquired Vought Aircraft Industries, Inc. from The Carlyle Group.
The Company’s Aerospace Systems Group includes companies performing manufacturing, machining and forming processes for a range of structural components, as well as assemblies and subassemblies. This group services a range of aerospace customers, which include aerospace OEMs and the top-tier manufacturers who supply them and airlines, air cargo carriers, and domestic and foreign militaries. The products that companies within this group design, engineer, build and repair include acoustic insulation systems, aircraft and engine mounted accessory drives, cockpit control levers, composite and metal bonding, composite ducts and floor panels, control system valve bodies, exhaust nozzles and ducting, floor beams, heat exchangers, high lift actuation, landing gear actuation systems, landing gear components and assemblies, main engine gear box assemblies, primary and secondary flight control systems, stretch-formed edges and fuselage skins, windows and window assemblies, and wing spars and stringers.
Triumph’s Aftermarket Services Group performs maintenance, repair and overhaul services (MRO) and supplies spare parts of various types of cockpit instruments, and gauges for the commercial and military aviation industry and primarily services the airline and air cargo carrier customers. This group also designs, engineers, manufactures, repairs and overhauls aftermarket aerospace gas turbines engine components, offers MRO solutions, leasing packages, exchange programs and parts and services to airline, air cargo and third party overhaul facilities. Companies in its aftermarket services group repair and overhaul various components for the aviation industry, including air cycle machines; APUs; cockpit instrumentation; constant speed drives; engine and airframe accessories; flight control surfaces; integrated drive generators; mechanical, hydraulic and electrical hardware items including gearboxes; cargo hooks and vibration absorbers; nacelles; remote sensors; thrust reversers; blades and vanes; cabin interior panes, shades, light lenses and other plastic components; combustors; stators; transition ducts; sidewalls; light assemblies, and overhead bins.
DV Industries, a metal finishing company, and DG Industries, Inc., a machining company, were acquired in autumn 1998. Triumph made its first foray into Europe in December 1998, when it acquired the British firm Chase Aerospace Limited. The company serviced auxiliary power units (APUs) and other equipment for the commercial aviation industry. It was expected to contribute $6 million per year to Triumph's revenues. Although Triumph usually highly valued the goodwill associated with existing company names, it announced it was renaming this acquisition to Triumph Air Repair (Europe) Limited. Soon afterward, Triumph bought Hartford Tool and Die Co., Inc., a maker of engine parts.
At the same time, falling share prices prompted a stock buyback. Ill allayed concerns about projected declines in Boeing's aircraft production. He stated that downturns in the manufacturer's larger aircraft programs were to be offset by more work on next generation 737s. Soon afterward, Boeing awarded Triumph Air Repair its largest contract ever, a one year, $7.4 million agreement to service APUs and line replaceable units for Air Force KC-10 tankers. With Boeing's eight annual options to renew, the deal had the potential of increasing to a value of more than $67 million. Boeing had acquired McDonnell Douglas, the original maker of the KC-10, an aerial refueling version of the DC-10 airliner. Most of Triumph Air Group's work had been related to Boeing 727s and 737s.
The group acquired aggressively, continuing its strategy of becoming a comprehensive MRO provider. It bought four companies in 1998 alone. In early 1999, its aviation subsidiaries numbered 18. Triumph had total group sales of $400 million for the year ending March 31, 1999. Net profits were about $33 million and employees numbered more than 2,000, including 15 at headquarters.
Triumph bought a maker of oversized aircraft components in May 1999. Ralee Engineering Co., based in City of Industry, California, gave the group the capability of producing virtually all of a commercial aircraft's structural parts. Ralee had revenues of about $20 million a year.
Operating profits for the aviation group were up by nearly half in fiscal year 1999, to $58.6 million. Net sales increased
1986:Alco Standard Corporation executives consider selling Triumph Group.
1993:Triumph Group spun off from Alco Standard in a leveraged management buyout.
1996:IPO raises $50 million.
1998:Triumph enters European market through purchase of Chase Aerospace Limited.
36 percent to $328.6 million. Triumph had acquired six businesses during this period, and invested $20 million in its existing ones. Triumph's manufacturing divisions produced honeycomb flight control surfaces, control systems, and machined metal parts. About half of the Triumph Group's revenues were derived from aircraft maintenance. Its divisions serviced virtually every commercial aircraft system except for cabins, main landing gears, radios, and engines, or the heaviest of maintenance checks. The maintenance, repair, and overhaul (MRO) market was valued at $25 billion. The world commercial airliner fleet had doubled in size in the previous twenty years. The Federal Aviation Administration ordered airlines to bring aircraft to 'Stage III' compliance by the end of 1999--essentially vectoring more planes towards overhauls.
Principal Subsidiaries:A. Biederman, Inc.; Advanced Materials Technologies, Inc.; Aerospace Technologies, Inc.; DG Industries, Inc.; DV Industries; Frisby Aerospace; Great Western Steel; HTD Aerospace, Inc.; Hydro-Mill Co.; JDC Company; K-T Corporation; Kilroy Steel, Inc.; Kilroy Structural Steel; L.A. Gauge Co., Inc.; Lamar Electro-Air Corporation; Northwest Industries; Nu-Tech Industries, Inc.; Ralee Engineering Corp.; Special Processes of Arizona, Inc.; Stolper-Fabralloy Co. LLC; Triumph Air Repair; Triumph Controls, Inc.
Principal Competitors:AAR Corp.; Aviation Sales Co.
OVERALL
Beta: 1.19
Market Cap (Mil.): $2,378.75
Shares Outstanding (Mil.): 24.23
Annual Dividend: 0.16
Yield (%): 0.16
FINANCIALS
TGI Industry Sector
P/E (TTM): 15.93 23.78 18.80
EPS (TTM): 20.58 -- --
ROI: 6.20 4.81 4.19
ROE: 12.23 16.98 7.33
Statistics:
Public Company
Incorporated: 1993 as Triumph Group Inc.
Employees: 2,600
Sales: $400.11 million (1999)
Stock Exchanges: New York
Ticker Symbol: TGI
NAIC: 336413 Other Aircraft Parts and Auxiliary Equipment Manufacturing
Name Age Since Current Position
Richard Ill 67 2009 Chairman of the Board, Chief Executive Officer
Jeffry Frisby 55 2009 President, Chief Operating Officer
M. David Kornblatt 50 2009 Chief Financial Officer, Executive Vice President, Treasurer
John Wright 56 2004 Vice President, General Counsel, Secretary
Kevin Kindig 53 1999 Vice President, Controller
Elisabeth Barrett 2011 Vice President of Human Resources
Richard Gozon 72 1993 Director
Claude Kronk 78 1993 Director
Joseph Silvestri 48 2008 Director
George Simpson 68 2002 Director
Paul Bourgon 53 2008 Director
Elmer Doty 56 2010 Director
Ralph Eberhart 64 2010 Director
Adam Palmer 37 2010 Director
Address:
Four Glenhardie Corporate Center
1255 Drummers Lane, Suite 200
Wayne, Pennsylvania 19087
U.S.A.