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  • Friday, April 26, 2024

Triumph Group to Merge Aerospace & Precision Tech Businesses


Berwyn, Pennsylvania-based aircraft component manufacturer Triumph Group (NYSE: TGI) plans to merge its Precision Components and Aerospace Structures businesses into a new business unit slated to launch Jan. 1.

Pete Wick, executive vice president of Precision Components, will serve as EVP of the newly combined business unit that will operate as Aerospace Structures, Triumph said Monday.

Wick previously served as VP of contracts at Triumph and worked at GKN Aerospace for eight years.

He is a 27-year aerospace industry veteran who held leadership positions across contracts, operational management and business development areas at several defense contractors such as General Dynamics (NYSE: GD), BAE Systems and EADS Astrium.

Daniel Crowley, president and CEO of Triumph, said Aerospace Structures will leverage the two business units’ combined resources, closely linked performance goals, clients and suppliers to deliver value to customers and shareholders.

Triumph will report its financial performance under its three business units – Aerospace Structures, Product Support and Integrated Systems – starting in the fourth quarter of fiscal 2018.

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