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4-Traders Homepage  >  Equities  >  Nyse  >  Northrop Grumman Corporation    NOC

Delayed Quote. Delayed  - 10/27 10:01:45 pm
225.35 USD   -1.18%
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Triumph : Supports U.S. Navy's Triton UAS Transition to Production

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10/27/2016 | 09:19pm CEST

By a News Reporter-Staff News Editor at Defense & Aerospace Week -- Triumph Group, Inc. (NYSE:TGI) joined Northrop Grumman Corporation (NYSE: NOC) and the U.S. Navy in celebrating the MQ-4C Triton unmanned aircraft system (UAS) successfully completing Milestone C, paving the way for the aircraft to transition into the production and deployment phase.

Over the past year, Triumph worked closely with Northrop Grumman and the Navy to implement improvements to the fabrication and assembly processes for the Triton wings, yielding enhancements in wing quality and overall build efficiency. Additional investments in tooling and capital equipment, as well as increased resources and training, were made to prepare for the ramp in manufacturing rates. Triumph Group has delivered 48 high altitude long endurance wings to Northrop Grumman since 1999.

"We are proud of our partnership with Northrop Grumman and the Navy, and our efforts to advance the Triton UAS to Milestone C," said Dan Crowley, Triumph Group president and CEO. "Completing this milestone allows for the launch of Triton into low rate initial production (LRIP) one and two, which extends through 2018, with projected production accelerations through 2027. Triumph is committed to the success of the Triton program for the long run."

In July, Triumph Group and Northrop Grumman signed a memorandum of understanding (MOU) agreeing to collaborate and jointly take further actions to achieve the wing delivery plan and ramp-up production rates for the high altitude long endurance unmanned aircraft systems.

Since then, the companies have teamed together to utilize the experience of mechanics, engineers and support personnel to facilitate learning and assist in the production ramp. Collaboration between Triumph Group and the Northrop Grumman teams generated improvements throughout the manufacturing value stream that mitigate processing risks and eliminate waste in the production flow.

Triton Milestone C marks the first achievement of the two firms' partnership since the signing of the MOU. The partnership demonstrates their commitment to the UAS programs and the mutual benefit of delivering high quality, affordable, compliant wings for high altitude long endurance systems.

Triumph Group, Inc., headquartered in Berwyn, Pa., designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.

More information about Triumph Group can be found on the company's website at http://www.triumphgroup.com. View source version on businesswire.com: http://www.businesswire.com/news/home/20161020006340/en/

Keywords for this news article include: Northrop Grumman, Unmanned Aircraft, Triumph Group Inc..

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2016, NewsRx LLC

(c) 2016 NewsRx LLC, source Science Newsletters

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Financials ($)
Sales 2016 23 934 M
EBIT 2016 3 009 M
Net income 2016 2 052 M
Debt 2016 4 610 M
Yield 2016 1,53%
P/E ratio 2016 20,06
P/E ratio 2017 19,31
EV / Sales 2016 1,85x
EV / Sales 2017 1,78x
Capitalization 39 721 M
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 240 $
Spread / Average Target 6,3%
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Wesley G. Bush Chairman, President & Chief Executive Officer
Gloria A. Flach Chief Operating Officer
Kenneth L. Bedingfield Chief Financial Officer & Corporate Vice President
Patrick M. Antkowiak CTO & Corporate Vice President
Donald E. Felsinger Lead Independent Director
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