Triumph Group, Inc. (NYSE:TGI) announced today that they will partner with AeroSpace Technologies of Korea Inc. (ASTK), a leading provider of aircraft fuselage, precision components and skeletal materials, to build fuselages for Embraer’s second-generation E-Jet aircraft program including the E175-E2, E190-E2 and the E195-E2. The strategic partnership with ASTK will allow Triumph’s Aerospace Structures business unit to dedicate resources to other production programs and capture new development work while fully meeting the quality and delivery needs of the Embraer customer.
Under the terms of the agreement, ASTK will build and transport fuselage shipsets to Embraer and establish a facility in Brazil to manage stock and repairs locally.
“ASTK has been a proven supplier for us on the E2 program providing a majority of the E2 parts and subassemblies since Triumph won the contract in 2013,” said Peter Wick, Executive Vice President for Triumph Aerospace Structures. “With the development and design phase of the program now complete, the new agreement with ASTK will enable us to build at the rate necessary to support the E2’s entry into service and beyond.”
“We are equipped and ready to provide full support for the fuselage program,” said Mr. T. H. Yoon, President, ASTK. “Our partnership with Triumph Group on the E2 program continues to be very positive and mutually beneficial. We are happy to see our relationship expand and we look forward to the opportunity to provide additional value-added services for both Triumph and Embraer.”
Triumph Group initially received the contract for work from Embraer in June 2013 and has provided the fuselage and other component parts to the Brazilian-based OEM throughout the development phase of the program. The E2 is scheduled to enter into service in 2018. ASTK was selected by Triumph as the prime subcontractor based on their familiarity with and current successes on the E2 platform as well as their excellent performance on other programs.
“Forming strategic outsourcing relationships with world-class partners like ASTK, is essential to our future success,” continued Wick. “We are able to leverage their unique strengths and capabilities, while at the same time freeing up our workforce and floor space to focus on programs where we can provide greater value to our overall customer base.”
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aircraft structures, components, accessories, and systems. The Company serves a broad spectrum of the global 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 can be found on the Company’s website at http://www.triumphgroup.com.