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Business

Akanksha Bakshi

Triumph Bags Lockheed Martin Production Contracts

Triumph Sikorsky LMT NYSE TGI Lockheed Martin Corp Triumph Group Inc Seattle

Triumph Group Inc's (NYSE:TGI) operating company Actuation Products & Services secured a multi-year contract from Sikorsky, a Lockheed Martin Corp (NYSE: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.

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