OREANDA-NEWS. October 05, 2016. Triumph Group, Inc.(NYSE:TGI) and Calspan Holdings, the parent
company to a thriving group of entities including Buffalo-based
aerospace and automotive research company Calspan Corporation, announced
today the acquisition of Triumph Aerospace Systems – Newport News, Inc.
The transaction was effective September 30, 2016 and the new company
will operate as Calspan Systems Corporation. Triumph Aerospace Systems –
Newport News generated revenues of approximately \\$18 million in Triumph
Group’s fiscal year ended March 31, 2016.
Calspan Systems Corporation (formerly “Triumph Aerospace Systems –
Newport News”), is a globally-recognized, industry-leading, engineering,
design, analysis and manufacturing firm, specializing in the engineering
and manufacture of complex hardware and prototype systems. Also included
in this acquisition is the company’s Force Measurement Systems (FMS)
division, located in San Diego, California. Triumph Aerospace Systems –
Newport News had been a subsidiary of the Triumph Group since 2006.
“We are very pleased to add Calspan Systems Corporation to our company,
and expand our capabilities in providing our customers with a heightened
expertise in aerospace engineering, testing, and design,” stated Calspan
President and CEO,
Louis Knotts. “This transaction is a winning
combination for Calspan’s customers, employees and partners, as it
builds on and complements the significant foundation already in place.”
The acquired company will retain its management, technical and
supporting staff and will continue operations at its current
headquarters in Newport News, Virginia, along with its San Diego
facility. “We are excited to join the Calspan team,” said
Stephanie
Mumford, Calspan Systems Corporation President. “Our core customers are
very similar, and we are now positioned to significantly enhance
Calspan’s position in the industry.”
Earlier this year Triumph Group President and CEO,
Dan Crowley announced
a transformation plan to positively position Triumph for long term
success and enhance its competitive position in the marketplace. “The
sale of Triumph Aerospace Systems-Newport News to Calspan is in the best
interest of all companies involved,” said Crowley. “The sale will allow
Triumph to focus more intently on our core business capabilities. I am
confident that under Calspan the company will have greater opportunities
for growth.”
This acquisition expands Calspan’s global reach. As stated by Calspan
Chairman,
John Yurtchuk, “This acquisition reinforces Calspan as a
growth company in the industries we serve, offering a consistent focus
of providing an exceptional level of service to our customers.”
It is expected that full integration of the companies will be completed
by the end of 2016.
About Calspan:
For more than 70 years, Calspan has been providing research and testing
services in the aviation and transportation industries and is
internationally recognized for research and innovation. Calspan is
privately owned with its headquarters located in Buffalo, New York where
they maintain a variety of testing facilities including a transonic wind
tunnel, a vehicle crash test operation, a HYGE sled used for child seat
testing, and a high performance tire testing facility. Calspan also
operates a flight research and testing facility at the Niagara Falls
International Airport where they own and operate a number of aircraft
used as in-flight simulators and airborne testbeds. For more information
about Calspan, please visit www.calspan.com.
About Triumph Group:
Triumph Group, Inc., headquartered in Berwyn, Pa., designs, engineers,
manufactures, repairs and overhauls a broad portfolio of aerostructures,
aircraft components, accessories, subassemblies and systems. The company
serves a broad, worldwide spectrum of the aviation industry, including
original equipment manufacturers of commercial, regional, business and
military aircraft and aircraft components, as well as commercial and
regional airlines and air cargo carriers.
More information about Triumph Group can be found on the company’s
website at http://www.triumphgroup.com.
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