Aircraft supplier Triumph Group said it has signed a new memorandum of agreement with Boeing that it expects to increase its opportunities with the commercial and military airplane and helicopter manufacturer.
Triumph, which employs about 340 people at two sites in the Wichita area, said in a news release that the agreement “supports Triumph’s participation in Boeing’s growth platforms within their commercial aircraft, defense programs, and global services market.”
The company added it builds upon its “traditional roles in aerospace structures and precision components into the areas of integrated systems and services.”
It also includes the development of a long-term partnership in maintenance, repair and overhaul work for Boeing Global Services, Triumph said.
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The announcement of a strengthening of the relationship between the two companies comes about two weeks after Triumph said in a regulatory filing that it was considering voluntary insolvency for its Vought Aircraft unit, which besides making the wings for Bombardier’s new Global 7000 business jet also manufactures large parts of the Boeing 777.
The Pennsylvania-based company has been struggling with costs and cash flow and, for more than a year, has undergone restructuring to get them under control.