The Triumph Group Inc — based in Berwyn, Pennsylvania — is to acquire the hydraulic-actuation division of GE Aviation.
This includes a facility in Yakima, Washington State, and two UK facilities — one in Cheltenham, the other on the Isle of Man. The purchase price will be about $70 million.
Employing around 475 people, the division does extensive business with Boeing, Airbus and other leading aerospace manufacturers. Its key products include landing-gear actuation systems, nose-wheel steering, hydraulic fuses, manifolds, flight-control actuation and locking mechanisms for commercial, military and business jets.
Jeffry D Frisby, Triumph’s president and CEO (pictured), said: “The addition of GE Aviation’s hydraulic-actuation business will be a good fit within our Aerospace Systems segment and will provide additional proprietary systems that augment our existing hydraulic-system capabilities.
“In addition, this acquisition furthers our strategic goals of increasing our global footprint while positioning ourselves for future growth. We are pleased that the existing management team will remain with Triumph to continue to deliver exceptional value to their global customers.”