Triumph Group
Annual Report 2004

Plain-text annual report

® 2004 Annual Report Triumph Group, Inc. The Company designs, engineers, manufactures, repairs and overhauls aircraft and gas turbine engine components, subassemblies and systems. The Company serves a worldwide spectrum of the aviation industry, including commercial and regional airlines, air cargo carriers, as well as original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components and operators of industrial gas turbine engines. These products and services are offered through two operating groups: Triumph Aerospace Systems Group and Triumph Aftermarket Services Group. Historical Financial Performance Fiscal Year Ended March 31 Major Markets r e h t O d n a e n i b r u T s a G l a i r t s u d n I % 0 1 y r a t i l i M % 3 3 l a i c r e m m o C % 3 4 s s e n i s u B l a n o i g e R % 8 % 6 Sales (in millions) EBITDA (in millions) Income from Continuing Operations (in millions) Earnings per share – Diluted (Income from Continuing Operations) 04 03 02 01 00 04 03 02 01 00 04 03 02 01 00 04 03 02 01 00 $608 $565 $565 $500 $369 $64.85 $76.19 $32.04 $37.58 $37.85 $2.36 $95.01 $104.66 $104.27 $49.12 $3.09 $3.00 $2.58 $19.41 $1.22 Financial Highlights (Dollars in thousands, except per share data) Results for Year: Sales Income from Continuing Operations % of Sales Income Tax Expense Interest Expense & Other Operating Income % of Sales Depreciation & Amortization Earnings before Interest, Taxes, Depreciation & Amortization* % of Sales Net Income % of Sales Earnings per share – Diluted: Income from Continuing Operations (Loss) Income from Discontinued Operations Net Income March 04 March 03 March 02 March 01 March 00 $ 608,315 $ 565,381 $ 565,343 $ 500,201 $ 368,614 $ 19,410 3% 4,991 12,212 $ 36,613 6% 28,237 $ 64,850 11% $ 18,222 3% $ 37,576 7% 20,682 12,365 $ 70,623 12% 24,387 $ 95,010 17% $ 36,717 6% $ 49,117 9% 22,220 12,773 $ 84,110 15% 20,546 $104,656 19% $ 49,437 9% $ 37,845 8% 20,788 20,549 $ 79,182 16% 25,090 $104,272 21% $ 39,214 8% $ 32,038 9% 16,249 9,215 $ 57,502 16% 18,683 $ 76,185 21% $ 34,602 9% $ $ 1.22 (0.07) 1.14 $ $ 2.36 (0.05) 2.31 $ $ 3.09 0.02 3.11 $ $ 3.00 0.11 3.11 $ $ 2.58 0.21 2.79 Weighted Shares – Diluted (in thousands) 15,918 15,924 15,918 12,629 12,397 Capital Expenditures $ 25,446 $ 31,567 $ 29,311 $ 20,604 $ 13,516 Year-End Position: Working Capital Current Ratio Property & Equipment at cost Property & Equipment, net Debt Cash Net Debt Stockholders’ Equity Capital Net Debt to Capital Ratio $255,016 3.1 $348,691 $248,626 $225,847 6,766 $219,081 515,116 $734,197 30% $231,917 3.1 $294,157 $215,832 $199,523 8,583 $190,940 494,985 $685,925 28% $197,933 2.7 $218,665 $159,845 $158,256 6,830 $151,426 453,501 $604,927 25% $188,008 2.6 $186,924 $143,433 $176,322 4,614 $171,708 389,891 $561,599 31% $131,608 2.5 $147,227 $114,070 $138,808 5,989 $132,819 244,370 $377,189 35% Book Value per Common Share $ 32.48 $ 31.24 $ 28.67 $ 25.38 $ 20.94 Employees Sales per Employee 3,883 157 $ 3,770 150 $ 3,554 159 $ 3,492 143 $ 2,584 143 $ * Management believes that earnings before interest, taxes, depreciation and amortization (“EBITDA”) provides the reader a good measure of cash generated from the operations of the business before any investment in working capital or fixed assets On the cover: The Triumph commitment to performance, growth, innovation and agility reflects the core of the long term strategy that has guided the Company since its formation. 1 Fellow Shareholders: Fiscal 2004 was a year that certainly presented its challenges. While there was a mild recovery in the airline aftermarket sector, commercial large transport production remained soft, although stable, with expectations for recovery deferred until late 2005. Fortunately, our Company enjoys strong positions on many military programs, particularly the C-17, V-22 and F/A-18, as evidenced by the fact that during our fiscal fourth quarter 2004 the percentage of military sales reached 35% of sales for the first time. For the year, the military sector represented 33% of our sales versus 43% for commercial large transport, providing a balanced foundation within our core aerospace businesses for the next several years. Unfortunately, the industrial gas turbine business deteriorated further during the past year, leading to our announcement in the third quarter that we were exiting the OEM manufacturing portion of this market, and negatively impacting the financial results for the last two quarters and the full fiscal year. While performance for this past year was not at the level we expected, the results of our core aerospace business exceeded most of the companies in our peer group. We remain very optimistic about the future primarily due to our position in the aerospace industry, improving trends in almost all of our diverse markets and, most importantly, the strength of our management team and the continued clarity of our vision and strategic course. As part of the realignment of our companies announced in March 2004, the Aerospace Systems Group and Aftermarket Services Group will be led by two Group Presidents, Jeff Frisby and John Brasch, respectively. In addition, Larry Resnick was promoted to Senior Vice President – Operations, effective April 1, 2004 and, along with Jeff and John, will ensure operational excellence throughout the organization. Combined with the sound financial stewardship of our Chief Financial Officer, John Bartholdson, our Company has a management team that shares my passion for our Company and firmly believes that our strategic focus, which has guided our decisions since the beginning of the Company eleven years ago, will drive our businesses forward in a coordinated, cohesive manner for the benefit of our shareholders, employees, customers and suppliers. 2 Our Vision, Our Strategy Our vision is shaped by our unwavering commitment to the strategies established during the formation of our Company in 1993, which continue to serve us well, namely: to add products and services; to expand operating capacity; to acquire aggressively; to market our complete capabilities; to increase our international presence. Over the past several years, through internal development and acquisitions, Triumph has built a very dynamic portfolio of products and services for the aerospace industry. Our vision is to take these products and services and offer our global customers an integrated solution of highly engineered systems and support services covering the entire lifecycle of an aircraft, generating more than a billion dollars of revenue in the process. We will continue our commitment to develop and acquire new, proprietary products and services that enhance our ability to design, develop, manufacture, sell and service a broad array of products for our customers. The acquisitions of Triumph Thermal Systems (thermal management) and Triumph ▼ ▼ ▼ ▼ ▼ Gear Systems (high lift actuation, complex geared systems) during the past year significantly expanded our portfolio of highly engineered proprietary systems. Our vision includes striving for operational excellence in all aspects of our business. One key component of this vision is the establishment of the Triumph Lean University in Spokane, Washington. This learning center was launched in September 2003 with the purpose of teaching the principles of lean systems to key members of our operating companies. The university is located within Triumph Composite Systems, which is recognized as one of the leading lean practitioners in the aerospace industry. Since its inception, 16 employees representing 14 of our companies have completed the four-week Lean Internship Rapid Certification program. In addition, the leader of each of these companies and, in many cases, the head of operations, supported their interns by attending the Kaizen event held during the first or last week of the internship. In total, 41 Triumph employees have undergone some level of training at the Triumph Lean University. The Lean Internship Rapid Certification program will continue throughout fiscal 2005 and beyond with the goal of striving for continuous improvement in every aspect of our business through the application of the principles of lean thinking. Finally, our vision is guided by our philosophy of protecting the integrity of our individual companies and the products and services they provide, while offering each company the advantages of being part of a larger entity. This philosophy allows us to maintain the decisiveness and agility that is essential to succeed in our industry, while driving our costs lower through group- wide initiatives. Growth Growth is a key aspect of Triumph’s success over the years. Our growth is generated through internal product development and capability expansion, as well as through acquisitions. During the past year our growth came primarily from acquisitions due to the difficult market conditions. Despite these conditions, we completed two important acquisitions during the year. We purchased Parker Hannifin’s United Aircraft Products, renamed Triumph Thermal Systems, on May 31, 2003. Triumph Thermal Systems is a leader in the design and manufacture of thermal management solutions for the aerospace industry. Their products include heat exchange and transfer systems and components for temperature control in fuel, lubrication, hydraulic, environmental, and related systems. Their product offerings align extremely well with our hydraulic systems capabilities. On January 26, 2004, we completed the acquisition of Rolls-Royce Gear Systems, renamed Triumph Gear Systems. Strategically, this purchase is significant because when combined with ACR Industries, Triumph is now one of the largest design/build manufacturers of complex geared systems for the aerospace industry in the United States. The acquisition moves us beyond the build-to-print market in which ACR has been so successful, and into more highly engineered system solutions for the world’s turbine engine manufacturers. As part of the acquisition we signed long term supply agreements with Rolls-Royce plc, thereby establishing an important relationship with one of the premier aero-engine companies in the world. We will work throughout the coming year to fully integrate the operations of ACR and Triumph Gear Systems so that we present a single face to our customers. We are excited about the opportunities that lie ahead for Triumph, and we are committed to realizing those opportunities while maintaining the sound financial structure of the Company. The successes we have enjoyed this past year are the result of the dedicated performance of Triumph employees, the continued loyalty of our valued customers, and the suppliers who delivered on their commitments. We believe our steady strengths, combined with our strategic vision, will continue to drive positive financial performance in the months and years to come. Richard C. Ill President and Chief Executive Officer 3 Triumph Air Repair is the world’s largest third party repair and overhaul center for auxiliary power units, serving nearly all the world’s airliners as well as the C-17. Triumph offers customers an unusually broad product range: hydraulic systems to landing gear, aluminum aircraft skins to composite floor panels, variable displacement hydraulic pumps to cabin windows, complex geared drive systems to nose wheel steering control. Our services are delivered rapidly – many with industry- leading turnaround times – and feature innovative pricing arrangements that are matched to customer needs. They include “power by the hour” service agreements, rotables and exchange units, and fixed price service agreements, as well as time and material contracts. The expansion of products and services, as well as increasing our operating capacity and skill base, is a key part of the Triumph strategy and we pursue it vigorously. Our performance as a company and our effectiveness in the marketplace comes in part from the ongoing expansion of our portfolio of products and services and the marketing of these products and services as one company to our customers. The more we provide, the more valuable we become as a supplier and the stronger our financial performance becomes. Triumph’s commitment. Performance Our focus is on action that drives customer satisfaction and financial performance. 4 Triumph’s commitment. Growth We’re growing steadily in the scope of capabilities we offer the aerospace industry. The core strategy of the Triumph Group is to grow consistently through internal development and acquisition thus adding new capabilities to Triumph and creating greater value for our customers. Triumph had a number of significant wins over the past year that exemplify that strategy. In the service arena, we signed with The Boeing Company for the repair and overhaul of the auxiliary power unit on the C-17 aircraft valued at $61 million over the five-year term of the agreement. Additionally, we signed a long-term support agreement with The Boeing Company for ground support equipment at their San Antonio, Texas Support Center. New products under development at Triumph companies include hold open rods for aircraft engine cowlings, the A380 cargo door actuation system, and fully automated aircraft wire rope assembly fabrication. In addition, our new engineering technical center for the development of hydraulic systems continues our move into an expanded role as a supplier of highly engineered system solutions for aircraft and engine manufacturers. And, as always, we look to acquisitions to expand our products and services portfolio. Our two acquisitions this year put Triumph in the forefront of their respective industry segments and provide outstanding engineering capabilities for the design, development and testing of proprietary products and services. Broader scope. New technologies. Lean manufacturing. Simplified customer interface. Strategic acquisitions. Greater efficiency. They’re all part of a bigger, and better, Triumph. Triumph provides a broad range of products and services for the Airbus A340, including control cables and overhaul services for critical components and accessories. . s u b r i A f o y s e t r u o c 0 0 6 - 0 4 3 A ® s u b r i A e h t f o e g a m I 5 Triumph’s commitment. Innovation We find better, more effective, and more efficient ways to meet – and exceed – our customers’ expectations. Better ideas build customer satisfaction. A case in point is the innovative cargo door actuation system auxiliary pump designed by Triumph for the new Airbus A380. The pump is operated by a hex-drive power tool and serves as a backup for opening and closing the cargo door if the main hydraulic system is inoperative. Finding ways to help airlines reduce operating costs is an important focus for the engineers at Triumph. One ongoing program is the development of repair technologies that allow airlines to salvage parts they would otherwise have to replace with costly spares. Working closely with our airline customers, we continue to develop new repairs, under strict FAA guidelines, thus reducing their dependency on new component parts and lowering overall operating costs. At Triumph, we think customer satisfaction is the whole point of innovation, and the reason why we keep expanding our range of technical skills to meet customer requirements. Meeting those requirements means constant technological innovation in our design and manufacturing capabilities. Simply put, we do things better today than ever before. Our expanded capabilities have moved Triumph into the top tier of suppliers to aircraft manufacturers in both the military and commercial sectors. We compete, and compete quite successfully, against much larger companies, some many times our size. As a result of our diverse product portfolio, we have moved incrementally but steadily toward being part of the manufacturer’s design/build team. As we grow and move our involvement with OEMs closer to product origination and basic design, we have a greater opportunity to find innovative ways to improve the product and lower its cost. That involvement, and the innovation it engenders, helps foster closer relationships with our customers. Triumph utilizes state of the art design tools including Dassault Systèmes’ CATIA, Unigraphics®, Pro/ENGINEER®, AutoCAD® and collaborative design tools such as PTC Windchill®. 6 Triumph supports our military through the design and manufacture of components for aircraft such as the F-22, F/A-18, C-17 and V-22. . n i t r a M d e e h k c o L f o y s e t r u o c r o t p a R 2 2 F e h t f o e g a m I Our heightened customer responsiveness is the result of several factors. A customer-centered company culture is one of them. But our unique structure also plays a key role in making Triumph an especially agile competitor, able to respond to customers whose needs may shift abruptly. The Triumph Group is the total of a multiplicity of smaller and mid-size companies acting in concert, each enjoying the benefits of being part of a much larger and well- capitalized organization. One of those benefits is lower operating cost through group-wide initiatives and group purchasing, a factor that helps make even the smallest Triumph company more competitive. Our operating philosophy is to protect the integrity of individual Triumph companies, thus preserving the advantages of keeping decision-making as close to the customer as possible. Our managers are unencumbered by the drag and delay of endless management layers. At the same time, when supplying larger customers – airframe and engine manufacturers – coordination is paramount. Through group marketing initiatives, Triumph companies speak with a single voice. Balancing the advantages of small and large organizations gives Triumph a marketplace agility that few can match. Triumph’s commitment. Agility An entrepreneurial response to our customers helps set Triumph apart. 7 Shareholder Information Executive Officers & Directors Executive Officers Richard C. Ill President and Chief Executive Officer John R. Bartholdson Senior Vice President, Chief Financial Officer and Treasurer Lawrence J. Resnick Senior Vice President – Operations Richard M. Eisenstaedt Vice President, General Counsel and Secretary Kevin E. Kindig Vice President and Controller Directors William O. Albertini Executive Vice President, Chief Financial Officer, Bell Atlantic Global Wireless, Inc. (Retired) John R. Bartholdson Senior Vice President, Chief Financial Officer and Treasurer, Triumph Group, Inc. Richard C. Gozon Executive Vice President, Weyerhaeuser Company (Retired) Richard C. Ill President and Chief Executive Officer, Triumph Group, Inc. Claude F. Kronk Vice Chairman and Director, J&L Specialty Steel, Inc. (Retired) Joseph M. Silvestri Vice President Citicorp Venture Capital, Ltd. George Simpson Chief Executive Officer Marconi, PLC (Retired) Triumph Group, Inc. Corporate Headquarters 1550 Liberty Ridge Drive Suite 100 Wayne, PA 19087 (610) 251-1000 www.triumphgroup.com Annual Meeting July 12, 2004, 9:00 a.m. 1550 Liberty Ridge Drive, Suite 100, Wayne, PA 19087 Financial Information A copy of the Company’s Form 10-K filed with the Securities and Exchange Commission may be obtained without charge upon written request. Requests for Triumph Group, Inc.’s 10-K or other shareholder inquiries should be directed to: John R. Bartholdson Senior Vice President, Chief Financial Officer and Treasurer Triumph Group, Inc. 1550 Liberty Ridge Drive, Suite 100 Wayne, PA 19087 (610) 251-1000 Fiscal 2004 Stock Prices Per Common Share $39.00 High Low $22.50 Year-End $33.05 Common Stock Triumph Group, Inc. Common Stock is listed on the NYSE. Ticker symbol: TGI Independent Auditors Ernst & Young LLP 2001 Market Street Suite 4000 Philadelphia, PA 19103 Transfer Agent National City Bank Corporate Trust Operations P.O. Box 92301 Cleveland, OH 44193-0900 (888) 843-5542 E-mail: shareholder.inquiries@nationalcity.com Equal Opportunity at Triumph Triumph Group, Inc. is committed to providing equal opportunities in the workplace. 8 Company Directory EFS Aerospace, Inc. Designs, manufactures, and repairs complex hydraulic and hydromechani- cal aircraft components and systems such as accumulators, actuators and complex valve packages. Brian Barrett, President Phone: (661) 295-1015 E-mail: bbarrett@triumphgroup.com Valencia, California Phone: (253) 395-2621 Kent, Washington Frisby Aerospace, LLC Designs, manufactures, and repairs complex hydraulic and hydromechani- cal aircraft components and systems such as variable displacement pumps and motors, linear actuators, and valves. Richard Reed, President Phone: (336) 766-9036 E-mail: rreed@triumphgroup.com Clemmons, North Carolina Phone: (516) 378-0162 Freeport, New York HTD Aerospace, Inc. Designs, manufactures and repairs com- plex hydraulic, hydromechanical and mechanical components and systems such as nose wheel steering motors, helicopter blade lag dampers, mechani- cal hold open rods, coupling and latch- ing devices plus mechanical and electromechanical actuation products. Thomas Holzthum, President Phone: (860) 242-5568 E-mail: tholzthum@triumphgroup.com Bloomfield, Connecticut Phone: (860) 739-4926 East Lyme, Connecticut Phone: (203) 544-8277 Redding, Connecticut Furst Aircraft, Inc. Specializes in the repair, overhaul and exchange of aircraft instruments and avionics. Edward J. Furst, General Manager Phone: (201) 440-0075 E-mail: efurst@triumphgroup.com Teterboro, New Jersey JDC Company Specializes in the repair, overhaul and exchange of electromechanical and pneumatic aircraft instruments. David G. Vorsas, President Phone: (954) 772-4559 E-mail: dvorsas@triumphgroup.com Fort Lauderdale, Florida Phone: (512) 218-1900 Austin, Texas Triumph Aerospace Systems Group Jeffry D. Frisby, Group President Phone: (336) 766-9036 E-mail: jfrisby@triumphgroup.com ACR Industries, Inc. Manufacturers complex geared assem- blies, gears and other components, servicing the aerospace industry. Gregory Blanchard, President Phone: (586) 781-2800 E-mail: gblanchard@triumphgroup.com Macomb, Michigan Chem-Fab Corporation Performs chem-milling and other metal finishing processes and produces com- plex sheet metal parts and assemblies. M. Anthony Johnson, President Phone: (501) 321-9325 E-mail: tjohnson@triumphgroup.com Hot Springs, Arkansas Constructions Brevetees d’Alfortville (C.B.A.) Manufactures mechanical ball bearing control assemblies for the aerospace, ground transportation, defense and marine industries. Michel Pommey, President Phone: 011 33 1 4375 2053 E-mail: mpommey@triumphgroup.com Alfortville, France DV Industries, Inc. Provides high-quality finishing servic- es to the aerospace, military, and commercial industries. Peter J. LaBarbera, President Phone: (323) 563-1338 E-mail: plabarbera@triumphgroup.com Lynwood, California Triumph Aftermarket Services Group John Brasch, Group President Phone: (602) 437-1144 E-mail: jbrasch@triumphgroup.com A. Biederman Repairs and overhauls aircraft instru- ments and avionics and serves as an authorized stocking distributor for a variety of aircraft components. Richard R. Rockwood, President Phone: (818) 246-8431 E-mail: rrockwood@triumphgroup.com Glendale, California Aerospace Technologies, Inc. Manufactures and repairs metallic/composite bonded compo- nents and assemblies. James Cooper, General Manager Phone: (817) 451-0620 E-mail: jcooper@triumphgroup.com Fort Worth, Texas Hydro-Mill Company Machines, welds and assembles large complex precision structural components. Kevin Dahlin, President Phone: (818) 341-1314 E-mail: kdahlin@triumphgroup.com Chatsworth, California K-T Corporation Produces aircraft fuselage skins, lead- ing edges and web assemblies through the stretch forming of sheet, extrusion, rolled shape, and light plate metals. Donald E. Kendall, President Phone: (317) 398-6684 E-mail: dkendall@triumphgroup.com Shelbyville, Indiana L.A. Gauge Company Manufactures ultra-precision machined components and assemblies to the aviation, defense and commer- cial industries. Kevin Dahlin, President Phone: (818) 767-7193 E-mail: kdahlin@triumphgroup.com Sun Valley, California Lee Aerospace, Inc. Manufactures windshields, flight deck and cabin windows to the general avi- ation and corporate jet market. James E. Lee, President Phone: (800) 379-6840 E-mail: jlee@triumphgroup.com Wichita, Kansas Northwest Industries, Inc. Machines and fabricates refractory, reactive, heat and corrosion-resistant precision products. Frederick W. Kuebrich, President Phone: (541) 926-5517 E-mail: fkuebrich@triumphgroup.com Albany, Oregon Triumph Accessory Services, Inc. Provides maintenance services for air- craft heavy accessories and airborne electrical power generation devices, including constant speed drives, inte- grated drive generators, air cycle machines, and electrical generators. Robert Bierk, President Phone: (620) 326-2235 E-mail: rbierk@triumphgroup.com Wellington, Kansas Phone: (210) 932-6700 San Antonio, Texas Triumph Aftermarket Services Division Provides distribution, exchange and lease programs for APUs, APU compo- nents, and components supported by Triumph Accessory Services and Triumph Airborne Structures. Lee R. Jacobs, General Manager Phone: (602) 470-7226 E-mail: ljacobs@triumphgroup.com Phoenix, Arizona Nu-Tech Industries, Inc. Manufactures precision machine parts and mechanical assemblies for the avia- tion, aerospace, and defense industries. David Soper, President Phone: (816) 763-8600 E-mail: dsoper@triumphgroup.com Grandview, Missouri Ralee Engineering Co. Manufactures long structural compo- nents such as stringer cords, floor beams and spar parts for the aviation industry. Kevin Dahlin, President Phone: (626) 965-1630 E-mail: kdahlin@triumphgroup.com City of Industry, California Walnut, California Triumph Components – San Diego, Inc. Produces close tolerance, complex sheet metal assemblies made from all types of aerospace materials using forming and joining techniques. Mark Gobin, President Phone: (619) 440-2504 E-mail: mgobin@triumphgroup.com San Diego, California Triumph Composite Systems, Inc. Manufactures interior non-structural composites for the aviation industry, including air control system ducting, floor panels, aisle stands and glareshields. MaryLou B. Thomas, President Phone: (509) 623-8100 E-mail: mthomas@triumphgroup.com Spokane, Washington Triumph Air Repair Repairs and overhauls auxiliary power units and related accessories. Michael Hansen, President Phone: (602) 437-1144 E-mail: mhanson@triumphgroup.com Phoenix, Arizona Triumph Air Repair (Europe) Limited Repairs and overhauls auxiliary power units for commercial transport carriers and the commuter aviation industry. Anthony R. Bull, Managing Director Phone: 011 44 1256 381507 E-mail: tbull@triumphgroup.com Lasham Alton Hampshire, England Triumph Airborne Structures, Inc. Repairs and overhauls thrust reversers, nacelle components and other aerostructures. Richard Clark, President Phone: (501) 262-1555 E-mail: dclark@triumphgroup.com Hot Springs, Arkansas Triumph Controls, Inc. Designs and manufactures mechanical and electromechanical control systems. William Bernardo, President Phone: (215) 699-4861 E-mail: wbernardo@triumphgroup.com North Wales, Pennsylvania Phone: (317) 421-8760 Shelbyville, Indiana Triumph Gear Systems, Inc. Specializes in the design, develop- ment, manufacture, sale and repair of gearboxes, high-lift flight control actu- ators and gear-driven actuators and gears for the aerospace industry. Steven Rusk, President Phone: (435) 647-2700 E-mail: srusk@triumphgroup.com Park City, Utah Triumph Thermal Systems, Inc. Designs, manufactures, and repairs aircraft thermal transfer components and systems. Michael Perhay, President Phone: (419) 273-2511 E-mail: mperhay@triumphgroup.com Forest, Ohio Triumph Wichita Support Center Provides commercial, technical, and logistics support for the Triumph Group companies’ Wichita-based customers. James E. Lee, President Phone: (316) 636-9200 E-mail: jlee@triumphgroup.com Wichita, Kansas Triumph Engineered Solutions, Inc. Designs, engineers, manufactures, repairs and overhauls aftermarket aerospace and industrial gas turbine engine components for aircraft opera- tors, maintenance providers, utility operators, independent power produc- ers and third-party overhaul facilities. Produces complex investment castings of turbine blades, vanes and nozzles for gas turbine engines for industrial and aerospace applications. Richard Wisniewski, President Phone: (480) 446-0910 E-mail: rwisniewski@triumphgroup.com Aerospace Repair Division Phone: (602) 438-8760 Tempe, Arizona Castings Division Phone: (480) 449-5750 Chandler, Arizona IGT Repair Division Phone: (480) 449-5800 Chandler, Arizona Phoenix Manufacturing Division Phone: (480) 446-0910 Tempe, Arizona Phone: (480) 449-5700 Chandler, Arizona Wisconsin Manufacturing Division Phone: (262) 786-3400 Brookfield, Wisconsin 9 ® Triumph Group, Inc. 1550 Liberty Ridge Drive, Suite 100, Wayne, PA 19087 (610) 251-1000 www.triumphgroup.com 

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