- Triumph Group Inc TGI and Air France KLM's AFRAF Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) finalized the formation of their joint venture under the name xCelle Americas.
- The venture overhauls nacelles for new generation aircraft at Triumph's Hot Springs, Arkansas repair facility.
- xCelle Americas will perform maintenance, repair, and overhaul (MRO) services for "new-gen" nacelles on Boeing Co BA 787, Boeing 737MAX, Airbus SE EADSF A320neo, and Airbus A350 aircraft for operators in North and South America.
- The JV advances important strategic objectives for Triumph and AFI KLM E&M, expanding the reach of AFI KLM E&M's nacelle MRO capabilities and Boeing 787 license into the Americas and enabling Triumph to be positioned on new-gen nacelles business.
- With this JV, Triumph and AFI KLM E&M attain the first step in their strategic partnership and ambition to provide local support to airlines.
- Price Action: TGI shares closed lower by 0.60% at $19.78 on Tuesday.
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