Triumph completes Vought Aircraft acquisition

Aerospace-system designer Triumph has announced the completion of the acquisition of aerostructures firm Vought Aircraft Industries from asset-management group Carlyle.

The acquired business will continue to be led by Elmer L Doty and will operate as Triumph Aerostructures – Vought Commercial Division; and Triumph Aerostructures – Vought Integrated Programs Division.

For fiscal year 2011, earnings accretion is expected to be approximately $1.1 (£0.7) per diluted share and the company expects to generate annual recurring synergies of approximately $12 to $15m within the first 12 to 18 months.