About Triumph Structures - Everett, Inc.

Triumph Group's companies design, engineer, manufacture, repair, and overhaul a variety of aerostructures, and aircraft components and systems for customers that include commercial, general, and military original and aftermarket equipment manufacturers. The company has four operating segments including Integrated Systems; Product Support (maintenance, repair, and overhaul); and Aerospace Structures (makes metallic and composite aerostructures and structural components). It operates through nearly 70 facilities around the world.

Operations

Triumph operates through four segments: Aerospace Structures (35% of net sales), Integrated Systems (almost 30%), Precision Components (more than 25%), and Product Support (almost 10%). In late 2017, however, it announced it was folding its Precision Components segment into Aerospace Structures to achieve maximum synergy.

Geographic Reach

Triumph generates roughly 80% of its revenue from the US. The company operates more than 70 locations in 24 US states and five foreign countries. It has international locations in Canada, China, France, Germany, Ireland, Mexico, Thailand, and the UK.

Sales and Marketing

US customers account for the majority of sales; Boeing is at the top of the list, generating around 35% of Triumph's total sales. In addition, Gulfstream Aerospace Corporation accounts for 12%.

Financial Performance

Triumph's revenues decreased 9% from $3.9 billion in 2016 to $3.5 billion in 2017. This was due to decreases across most of its segments, including Aerospace Structures (17%), Integrated Systems (5%), and Precision Components (7%).

Organic sales also decreased in 2017 due to production rate reductions by customers on the 747-8, Gulfstream G450/G550, C-17 and A330 programs. Additional sales from a previous acquisition were offset by divestitures.

After suffering a massive net loss of $1.05 billion in 2016, Triumph saw its net loss shrink to $43 million largely to due the absence of major impairment losses it incurred the previous year. Triumph's cash flow has fluctuated wildly over the last few years. After plummeting sharply in 2016, cash flow surged from $84 million to $282 million in 2017 mainly due to a $441 million increase in receipts from customers.

Strategy

Triumph transitioned its business throughout 2016 as it realigned its organizational structure into four business units. It launched a $300 million cost-reduction initiative with the goal of lowering overall costs by 10% by the end of fiscal year 2019. Most of the cost reductions are projected to come from supply chain savings, headcount reductions, reduced facilities occupancy costs, and increased operational efficiency.

Accelerating its restructuring efforts even further, Triumph in late 2017 announced it will fold its Precision Components segment into Aerospace Structures effective January 1, 2018. Both business units share many of the same customers and suppliers and maintain substantial inter-company collaboration on common programs. As a single business unit, Triumph intends to leverage their combined resources to optimize their performance and make them more cost competitive.

In late 2016, the company divested its Triumph Aerospace Systems operations to Calspan Holdings, the parent company of Cheektowaga-based Calspan Corp. The sale helped the company to focus more on its core businesses and improve efficiency in the process.

Mergers and Acquisitions

Triumph has expanded over the years through organic growth and acquisitions. In late 2015, Triumph acquired Fairchild Controls Corporation, a provider of proprietary thermal management systems, auxiliary power generation systems, and related aftermarket spares and repairs. The transaction strengthened Triumph's ability to offer both air and liquid cooling systems for thermal management

- Show Less + Show Full Description

Triumph Structures - Everett, Inc.

17055 Gale Ave
City Of Industry, CA 91745-1808
Phone: 1 (425) 348-4100
Fax: 1 (425) 438-7153

Stats

  • Employer Type: Public
  • Employees: 202

Major Office Locations

  • City Of Industry, CA