Triumph Group completes acquisition of Vought Aircraft Industries

Triumph Group completed the acquisition of Vought Aircraft Industries, from The Carlyle Group, creating a company with industry-leading breadth of product and capabilities. The acquired business will continue to be led by Elmer L. Doty and will operate as Triumph Aerostructures-Vought Commercial Division and Triumph Aerostructures-Vought Integrated Programs Division. For fiscal year 2011, earnings accretion is expected to be approximately $1.10 per diluted share, which reflects initial estimates of purchase accounting adjustments and excludes transaction and integration expenses and expected synergies resulting from the acquisition. The company expects to generate annual recurring synergies of approximately $12 to $15 million within the first twelve to eighteen months. The company will update its fiscal year 2011 guidance for the inclusion of Vought when it releases its first quarter fiscal year 2011 earnings in July.