TRIUMPH GROUP,INC. (NYSE:TGI) Files An 8-K Other Events

ME Staff 8-k
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TRIUMPH GROUP,INC. (NYSE:TGI) Files An 8-K Other Events
Item 8.01 Other Events.

Triumph Group, Inc. (the “Company”) was notified on April 5, 2019 of production rate adjustments planned by The Boeing Company (“Boeing”) over the next several months on the 737 MAXfrom 52 to 42 airplanes per month. The Company noted that it does not anticipate a material impact to the Company’s financial performance or forecasts, as the program historically has contributed a single digit percentage of annual revenue. The Company will work with its suppliers to actively manage internal and supplier delivery schedules. Given the shorter production spans of the component factories that support the 737 MAX, the rate adjustments can be accommodated with normal operational capacity with minimal adjustments to working capital, shop utilization, and overtime reductions. The Company will use the intervening months to derisk any supply chain areas of concern.

The Company provides landing gear, gearboxes and actuation systems as well as interior components and ducting for the 737 MAX.

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.