TRIUMPH COMPLETES SALE OF PRODUCT SUPPORT BUSINESS TO AAR
Triumph Group, Inc. (TGI)
Last triumph group, inc. earnings: 2/6 06:00 am
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US:NYSE Investor Relations:
ir.triumphgroup.com/investor-overview
Company Research
Source: PR Newswire
RADNOR, Pa., March 1, 2024 /PRNewswire/ -- Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") announced today that it has completed the sale of its Product Support business to AAR CORP. (NYSE: AIR). The transaction is valued at $725 million, and the net after-tax proceeds are expected to be approximately $700 million, which will primarily be used for debt reduction.The Product Support business is an industry leader in the Maintenance, Repair and Overhaul (MRO) of structures and airframe and engine accessories, servicing both the commercial and military aftermarkets across five primary locations."We are pleased to complete this transformative divestiture which delivers immediate and substantial value to TRIUMPH and our stakeholders. This transaction enables TRIUMPH to greatly accelerate our deleveraging progress while placing our third-party Product Support business with a market-leading MRO company that has a proven track record of customer support," said Dan Crowley, TRIUM
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TGI
Earnings
- 2/7/24 - Miss
TGI
Sec Filings
- 5/1/24 - Form 8-K
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- TGI's page on the SEC website