TRIUMPH GROUP, INC. (NYSE:TGI) Files An 8-K Other EventsItem 8.01
TRIUMPH GROUP, INC. (NYSE:TGI) Files An 8-K Other Events
Other Events.
Triumph Group, Inc. (the “Company”) reports that, on December 22, 2016, Triumph Aerostructures, LLC, a wholly owned subsidiary of the Company (“Triumph Aerostructures”), initiated litigation against Bombardier Inc. (“Bombardier”), a customer of Triumph Aerostructures, in the Quebec Superior Court, District of Montreal. The lawsuit relates to Bombardier’s failure to pay to Triumph Aerostructures certain non-recurring expenses incurred by Triumph Aerostructures during the development phase of a program to which Triumph Aerostructures agreed to design, manufacture, and supply the wing and related components for Bombardier’s Global 7000 business aircraft. The lawsuit seeks a monetary award of approximately US$340,000,000 (or CAD $455,000,000) resulting from Bombardier directed changes to the original wing requirements for the Global 7000 program, as well as Bombardier’s, delays, disruptions, acceleration and interference in connection with its contract with Triumph Aerostructures. In the meantime, Triumph Aerostructures continues to support the Global 7000 program and to seek a resolution of its disputes.
About TRIUMPH GROUP, INC. (NYSE:TGI)
Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aircraft components, accessories, subassemblies and systems. The Company offers a range of products and services to the aerospace industry through three segments: Triumph Aerostructures Group, whose companies are engaged in the design, manufacture, assembly and integration of metallic and composite aerostructures and structural components for the aerospace original equipment manufacturer (OEM) market; Triumph Aerospace Systems Group, whose companies design, engineer and manufacture a range of build-to-print components, assemblies and systems also for the OEM market, and Triumph Aftermarket Services Group, whose companies serve aircraft fleets, such as commercial airlines, the United States military and cargo carriers, through the maintenance, repair and overhaul (MRO) of aircraft components and accessories manufactured by third parties. TRIUMPH GROUP, INC. (NYSE:TGI) Recent Trading Information
TRIUMPH GROUP, INC. (NYSE:TGI) closed its last trading session down -1.20 at 27.35 with 982,185 shares trading hands.
Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aircraft components, accessories, subassemblies and systems. The Company offers a range of products and services to the aerospace industry through three segments: Triumph Aerostructures Group, whose companies are engaged in the design, manufacture, assembly and integration of metallic and composite aerostructures and structural components for the aerospace original equipment manufacturer (OEM) market; Triumph Aerospace Systems Group, whose companies design, engineer and manufacture a range of build-to-print components, assemblies and systems also for the OEM market, and Triumph Aftermarket Services Group, whose companies serve aircraft fleets, such as commercial airlines, the United States military and cargo carriers, through the maintenance, repair and overhaul (MRO) of aircraft components and accessories manufactured by third parties. TRIUMPH GROUP, INC. (NYSE:TGI) Recent Trading Information
TRIUMPH GROUP, INC. (NYSE:TGI) closed its last trading session down -1.20 at 27.35 with 982,185 shares trading hands.