Triumph Group (TGI) Divests G650/700 Assets To Gulfstream
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Triumph Group Divests G650/700 Assets To Gulfstream
August 4, 2020 9:07 AM EDTBERWYN, Pa., Aug. 4, 2020 /PRNewswire/ --Â Triumph Group, Inc. (NYSE: TGI) ("Triumph" or the "Company") today announced it has reached a definitive agreement to sell its G650 program scope of work including supply chain management, engineering services, and related tooling, inventory, facilities, personnel, and warranty obligations to Gulfstream Aerospace. This agreement follows the Company's transfer of the G650 wing assembly line in Tulsa, Oklahoma to Gulfstream's Savannah, Georgia facility in 2019.
The G650 wing program was transferred from Spirit Aerosystems to Triumph Group in 2015. Following Triumph's strategic decision to exit non-core structures manufacturing, the G650 wing... More
