- Triumph Group (TGI -1.1%) has announced the closing of the previously announced agreement with Spirit AeroSystems (SPR -0.2%) to take over production of the Gulfstream G650 and G280 wing programs in Tulsa, Oklahoma.
- The company received $160M in cash plus assets from Spirit to run the business and to cover the anticipated future cash flow needs of the programs.
- The business is expected to to be immediately accretive to Triumph's EPS an add approximately $250M to annual revenue.
- Previously: Spirit to transfer Gulfstream wing programs to Triumph (Dec. 09 2014)