Picks Up Rolls-Royce Gear Systems, Inc.

On Monday, Triumph Group, Inc. announced the acquisition of Rolls-Royce Gear Systems, Inc. from Rolls-Royce North America Venture I Inc. for consideration of $36 million. The acquired business, to be renamed Triumph Gear Systems, Inc., is projected to add approximately $55 million of revenue for fiscal 2005 and be accretive to earnings.

Located in Park City, Utah, the company employs about 200 people and specializes in the design, development, manufacture, sale and repair of gearboxes, high-lift flight control actuators and gear-driven actuators and gears for the aerospace industry. Primary products include aircraft and engine mounted accessory drives, utility actuation components and systems, high-lift actuation systems and flight trim actuators for both civil and military application. The company also operates a FAA and JAA certified repair and overhaul center in Park City. As part of the transaction, Triumph and Rolls-Royce have entered into exclusive long-term supply agreements for all Rolls-Royce related business.

Richard C. Ill, Triumph's President and Chief Executive Officer, said, "We are pleased to have acquired Triumph Gear Systems from Rolls-Royce. The broad range of this company's engineering and system design capabilities, particularly in the areas of geared systems and high-lift actuation, expand the value added products and services supplied by our Aerospace Systems Group and, in conjunction with ACR Industries, provides Triumph with a significant position in gear-driven actuation for the aerospace industry. Under the leadership of Steve Rusk, the current President, we look forward to having Triumph Gear Systems continue to provide unique cost effective product and supply chain solutions to the marketplace."

Triumph Group, Inc. headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and industrial gas turbine components and accessories.

FMI: www.triumphgroup.com