14 May 2013
14 May 2013
Triumph Group has acquired Primus Composites from Precision Castparts.
The acquired business, which consists of two manufacturing facilities in Farnborough, UK and Rayong, Thailand, will operate as Triumph Structures-Farnborough and Triumph Structures-Thailand and will be included in the Aerostructures Group. Triumph says the business is expected to add approximately $55 million in annual revenue and to be immediately accretive to earnings.
Employing approximately 650 employees, Primus Composites is a supplier of composite and metallic propulsion and structural composite components and assemblies. In addition to its composite operations, the Thailand operation also machines and processes metal components.
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said, “The acquisition of Primus Composites increases our global presence, expands our structural composite capabilities and enhances our customer relationships. We are pleased that the management team of Doug Fletcher, Paul Jerram and Alex Beysen will remain with Triumph and view the acquisition as an excellent strategic fit within our Aerostructures Group.”