Triumph Group Announces the Sale of NAAS Line Maintenance Service Provider
BERWYN, Pa.--(BUSINESS WIRE)--Mar 6, 2019--Triumph Group, Inc. ( NYSE:TGI ) announced today the sale of Triumph Aviation Services – NAAS Division, Inc. (“NAAS”) to STS Aviation Group. The transaction is effective as of March 6, 2019. The division generated revenues of approximately $30 million in Triumph Group’s 2018 fiscal year, ending on March 31, 2018.
NAAS is headquartered in San Antonio, Texas and employs approximately 200 people who are co-located at customer sites at more than 20 North American and two European locations. NAAS provides line maintenance support to airlines, MROs, government operators and OEMs and has a specialization in fuel systems maintenance, leak detection and bladder cell repair.
The sale of NAAS to STS Aviation Group, continues the transformation of Triumph’s portfolio to divest non-core operating businesses and focus on the strengths of the Product Support business unit – overhaul and repair of aircraft structures and components.
“This is an exciting time for both NAAS and Triumph Product Support. I am confident the STS team will benefit from the deep line maintenance experience NAAS will add,” said Triumph Product Support Executive Vice President, William Kircher. “Now, Triumph Product Support will move forward focusing on the growth in our core business areas – structural overhaul and repair and component overhaul and repair – where we provide the greatest value to our customers and partners around the world.”
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.
More information about Triumph Group can be found on the company’s website at http://www.triumphgroup.com.
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KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: TRANSPORT AIR MANUFACTURING AEROSPACE ENGINEERING DEFENSE OTHER DEFENSE
SOURCE: Triumph Group, Inc.
Copyright Business Wire 2019.
PUB: 03/06/2019 04:50 PM/DISC: 03/06/2019 04:50 PM