Triumph Group buying Primus Composites
Triumph Group buying Primus Composites from Precision Castparts for undisclosed sum
BERWYN, Pa. (AP) -- Aircraft supplier Triumph Group is buying a composites business from Precision Castparts Corp. in part to broaden its global reach and expand its structural composite capabilities.
Financial terms were not disclosed.
Triumph's purchase of Primus Composites includes a manufacturing plant in England and another in Thailand. The facilities will become part of Triumph's aerostructures group.
Primus supplies composite and metallic propulsion and structural composite components and assemblies. Its operations in Thailand also machine and process metal components. Primus customers include Airbus, Rolls Royce, Aircelle and Bombardier.
Triumph Group Inc. said Monday that it anticipates Primus adding about $55 million to annual revenue and to immediately add to its earnings.
Shares of Triumph, which is based in Berwyn, Pa., added $1.70, or 2.4 percent, to $73.09 in midday trading. The stock has traded in a 52-week range of $53.46 to $81.80.
