Triumph acquires Primus' plant in Rayong
Triumph Group Inc has acquired a major stake in Primus Composites from Precision Castparts Corp.
The business – consisting of two manufacturing facilities in Farnborough, England, and Rayong, Thailand – will jointly operate as Triumph Structures/Farnborough and Triumph Structures/Thailand and be included in the Aerostructures Group.
It is expected to add about US$55 million (Bt1.6 billion) in annual revenue to the group and be immediately accretive to earnings.
Employing about 650 people, Primus Composites is a global supplier and assembler of composite and metallic propulsion and structural composite components. In addition to its composite operations, the Thai operation machines and processes metal components, with Airbus, Rolls-Royce, Aircelle and Bombardier as key customers.
Jeffry Frisby, Triumph’s president and chief executive officer, said the acquisition of Primus Composites increased the group’s global presence, expanded its structural composite capabilities and enhanced its customer relationships.
“We are pleased that Primus’ management team of Doug Fletcher, Paul Jerram and Alex Beysen will remain with Triumph and view the acquisition as an excellent strategic fit within our Aerostructures Group,” he said.
Triumph Group, headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft 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.
