April 24, 2012 |
Few CEOs get to hold on to their job for more than a decade. Fewer still preside over the growth of a corporation like that experienced by Triumph Group Inc. since 1993. Richard C. Ill took cast-off businesses from a Philadelphia-area conglomerate once called Alco Standard Corp. in 1993 and turned Berwyn-based Triumph into a major supplier of aircraft components. On Monday, Triumph announced that Ill would retire as CEO as of July 19, the same day the company will hold its annual shareholders meeting.
March 19, 1998 |
You might call this a story of manufacturing triumph. It's a tale of how, in a national economy that sometimes seems dominated by the export of industrial production jobs, a Philadelphia-area company is prospering at home by making and fixing things made of metal. Triumph Group Inc., based in Wayne, is a holding company that over the last three years has seen its sales and profits soar. It's done that primarily by assembling a galaxy of small businesses that make or fix parts for airplanes - an industry that's subject to big economic swings but is trending up. From $60 million in aircraft-related sales in 1993, Triumph Group's aviation revenues will grow to an estimated $240 million in the fiscal year that ends March 31, with acquisitions and internal growth both contributing to the climb.
July 27, 2000 |
For almost two years, Triumph Group Inc.'s sales growth has come from its acquisitions. But yesterday, fiscal first-quarter earnings showed that Triumph's existing companies finally are bringing in more business. For the first time in six quarters, the Wayne company reported a 1 percent sales increase at its existing companies - that is, excluding the results from acquisitions made since June 1999. The increase was for the company's first quarter 2001, which ended June 30, compared with the same period last year.
March 19, 2013 |
Berwyn aircraft parts maker Triumph Group Inc. completed its purchase of United Technologies Corp.'s Goodrich Pump & Control Systems unit for an undisclosed sum, the companies said. The sale was a divestiture required by regulatory authorities as a condition of United Technologies' purchase of Goodrich Corp. That 2011 deal was valued then at $18.4 billion. Triumph had said the unit acquisition will add 530 employees and about $195 million in annual revenue.
May 24, 2010
Triumph Group said Monday that the waiting period required by federal law for the Wayne company's proposed takeover of Vought Aircraft Industries Inc. has been ended early. The Federal Trade Commission completed its antitrust review of the $984 million deal and ended the waiting period required by the Hart-Scott-Rodino Act, Triumph said. The deal was announced in March, and Triumph said it expects the takeover to be completed in June. Vought, of Dallas, makes aircraft parts, as does Triumph.
May 21, 2011
A headline for a "BriefCase" item Friday about the sale of Triumph Group shares incorrectly said the Carlyle Group was buying the shares. Carlyle is selling them. The Inquirer wants its news report to be fair and correct in every respect, and regrets when it is not. If you have a question or comment about news coverage, contact assistant managing editor David Sullivan (215-854-2357) at The Inquirer, Box 8263, Philadelphia 19101, or e-mail firstname.lastname@example.org .
June 9, 2011
Triumph Group Inc. today announced a two-for-one split of its common stock. The split will be effective July 14 for shareholders as of June 22. Shares of the Wayne manufacturer are up 48 percent in the last 12 months. The split will cut the price in half, making the stock more affordable for investors. The shares rose up $1.16 in noon trading today to $93.17. In addition, the company said it will maintain its quarterly dividend at 4 cents per share, thereby doubling the payout.
January 19, 2013
Aircraft parts maker Triumph Group Inc., of Berwyn, said it agreed to acquire Goodrich Pump & Engine Control Systems from United Technologies Corp. for an undisclosed amount. Triumph said the acquisition will add about $195 million in annual revenue, and will operate as Triumph Engine Control Systems L.L.C. The business, which supplies aerospace fuel systems, is located in West Hartford, Conn. It employs 530. The deal is expected to close in the current quarter, Triumph said.
November 16, 1988 |
Gains in annual and quarterly earnings for Alco Standard Corp. of Valley Forge were led by its Paper Corp. of America, Alco Office Products and Triumph Group subsidiaries, Ray B. Mundt, the company's chairman and chief executive officer, said yesterday. Revenue for the year ended Sept. 30 for Paper Corp. of America was up 20.4 percent to $2.8 billion. Operating income rose 26.3 percent to $106 million, nearly double the 1986 level. Revenue for Alco Office Products was up 42.6 percent to $375 million, and operating income leaped 62.8 percent to $26.3 million.
May 6, 2006 |
Aircraft-components-maker Triumph Group Inc., of Wayne, said yesterday that its income from continuing operations for fiscal 2006 increased 118 percent, to $34.5 million from $15.8 million the year before. Company president and chief executive officer Richard C. Ill said the strong results were attributable to organic growth - that is, gains in the company's continuing businesses rather than acquisitions. The aerospace industry, which had been in the doldrums for several years after the Sept.