Triumph, Air France Industries KLM Officially Form JV Named 'xCelle Americas' - Air France (OTC:AFRAF), Triumph Group (NYSE:TGI)

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.