Triumph Group Acquires Vought for $1.44 Billion

Expands niche by adding structural assemblies for commercial, military and business jet aircraft

Triumph Group Inc. has agreed to buy Vought Aircraft Industries Inc. from The Carlyle Group for a total of $1.44 billion in cash and stock, in a combination of two aerospace -manufacturing firms.

"This is an important acquisition for Triumph as it will dramatically advance our technical capabilities and significantly enhance our ability to offer aerostructure systems solutions to our customers," stated CEO Richard C. Ill. "The combination of Vought with Triumph will enhance Triumph's products and system offerings to the benefit of our customers, suppliers, employees and investors."

Vought produces structures for commercial, military and business jet aircraft OEMs, including fuselages, wings, empennages, nacelles, and helicopter cabins. It will operate as Triumph Aerostructures-Vought Aircraft Division.

Triumph Group’s focus is supplying and overhauling aerospace systems, subassemblies, and components for commercial and regional airlines, air cargo carriers, and OEMs of commercial, regional, business, and military aircraft and aircraft components.

Triumph will pay $525 million in cash, plus stock valued at $460 million, and assume $455 million in debt to bring the total cost of the deal to $1.4 billion. Carlyle Group gains a 31% stake in Triumph. The acquisition is expected to be complete during the second quarter of 2010.

Elmer L. Doty, Vought President and CEO, said the combined organization “will possess the scale and resources to confidently address the opportunities and challenges of today's aerospace market."

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