Triumph Group to Buy Goodrich Pump & Engine Control Systems
Triumph Group, Inc. (NYSE: TGI) today announced the signing of a definitive agreement to acquire the pump and engine control systems business of Goodrich Corporation (Goodrich Pump & Engine Control Systems or GPECS) from United Technologies Corporation. The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to close in the current fiscal quarter. The acquired business, which will operate as Triumph Engine Control Systems, LLC and be included in the Aerospace Systems Group, is expected to add approximately $195.0 million in annual revenue and to be immediately accretive to earnings.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.