- Triumph Group Inc's TGI operating company Actuation Products & Services secured a multi-year contract from Sikorsky, a Lockheed Martin Corp LMT company, to produce equipment for the CH-53K helicopter. Financial terms were not disclosed.
- The strategic follow-on contract will contribute significant work for Triumph's Seattle location.
- Triumph will provide all equipment for the Main Rotor Blade Folding System, Main Rotor Lag Damper System, and Main Rotor Brake System.
- Sikorsky is ramping production to deliver 200 aircraft under the CH-53K program. Triumph will provide continuous and increasing equipment deliveries through the production ramp-up.
- Price Action: TGI shares are trading higher by 0.81% at $27.53 and LMT higher by 1.35% at $455.79 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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