BERWYN, Pa.--(BUSINESS WIRE)--Triumph Group, Inc. (NYSE:TGI) will supply gun bodies for BAE Systems’ M777 Howitzer in support of a recent contract with the U.S. Department of Defense. The contract, valued at $15 million, was awarded to Triumph’s Precision Components business unit for the gun body used in the ultra-lightweight artillery weapon. Precision Components has a long history of supporting the M777 platform, producing more than 1,000 gun bodies for BAE.
“We are pleased to continue our staunch relationship with BAE in support of the M777 Howitzer,” said Rick Rosenjack, executive vice president for Triumph Precision Components, “and extend our support for the platform as it expands operations in India.”
Triumph Precision Components will machine, weld and assemble the gun body before shipping it to BAE for the cannon assembly. Deliveries will take place over the next two and a half years. The gun bodies will support the recent foreign military sale between the U.S. and Indian governments and will be used to enhance border protection.
“With their focus on quality and on-time delivery as their top priorities, we are pleased to welcome Triumph Precision Components back to the production supply chain as we lean forward to deliver our commitment on the M777 India program,” said Jimmy Dow, head of procurement for BAE Systems.
The win marks the continued expansion into adjacent markets for Triumph Precision Components. Last year the company announced a $48 million contract with SNC-Lavalin for end fittings and shield plugs for the nuclear pressure vessels as part of the Ontario Darlington Retube & Feeder Replacement program.
Triumph Group, Inc., headquartered in Berwyn, Pa., designs, engineers, manufactures, repairs and overhauls a broad portfolio of aircraft structures, components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the 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.
Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements of contract value or aggregate revenue. All forward-looking statements involve risks and uncertainties which could affect the company’s actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group’s reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2016.