TRIUMPH GROUP,INC. (NYSE:TGI) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01
Completion of Acquisition or Disposition of Assets
On February 6, 2019, Triumph Group, Inc. (the “Company”) consummated the transfer of its Global 7500 program (the “Transition”) to Learjet Inc. (“Learjet”), a subsidiary of Bombardier Inc. (“Bombardier”) to the terms of a purchase agreement by and between Triumph Aerostructures, LLC (“Triumph Aerostructures”), as subsidiary of the Company and Learjet dated as of January 23, 2019. Under the terms of the agreement, Triumph Aerostructures will transition responsibility for the Global 7500 wing manufacturing operations and assets to Learjet. To ensure a seamless transition, the companies agreed that Learjet will continue to operate the program’s production line at Triumph Aerostructures’ Red Oak, Texas facility and Triumph Aerostructures employees currently operating the Global 7500 production line in Red Oak will continue in their roles upon completion of the transition. Under the terms of the agreement, Learjet assumed the program’s assets and obligations upon closing.
On February 6, 2019, the Company issued a press release announcing the closing of the Transition. A copy of the press release is included as Exhibit 99.1 to this Current Report on Form8-K.
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Item 9.01 |
Financial Statements and Exhibits. |
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(b) |
Pro forma financial information: The unaudited pro forma condensed financial information of the Company giving effect to the Transition and certain other transactions is filed as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference. |
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(d) |
Exhibits. |
TRIUMPH GROUP INC Exhibit
EX-99.1 2 exhibit991pressreleasedate.htm EXHIBIT 99.1 – PRESS RELEASE DATED 2.6.2019 Exhibit Exhibit 99.1NEWS RELEASE Contact:Michele Long Senior Director – CommunicationsPhone (610) 251-1000mmlong@triumphgroup.com Michael Pici Vice President – Planning & Investor RelationsPhone (610) 251-1000mpici@triumphgroup.comTRIUMPH GROUP COMPLETES TRANSFER OF GLOBAL 7500 WING PROGRAM TO BOMBARDIERBERWYN,…
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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.