On Friday, Triumph Group's (NYSE:TGI) Aerostructures-Vought Aircraft Division announced that it has been awarded the contract to design and build the center fuselage section III, rear fuselage section, and also the rudder and elevator components on the tail section on Embraer's second-generation family of E-Jets.
In a statement, Triumph advised that it will invest $130 million in developing the parts over the next four years, beginning with a $25 million investment in fiscal 2014. Over time, the company expects to get this money back and more, collecting perhaps $1.7 billion in revenues from its sale of airplane parts to Embraer over the life of the program.
Triumph COE Jeffry D. Frisby called the deal "a significant win for Triumph and expands our presence in the jet market."
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