January 24, 2019 / 4:00 PM / 9 months ago

BUZZ-Triumph Group: Soars as Bombardier buys wing-making unit

** Aircraft parts supplier’s shares rise 30.4 pct to $17.30

** Canada’s Bombardier says will buy co’s 7500 wing manufacturing operations and assets

** Financial terms of the deal were not disclosed; Bombardier to buy assets for a “a nominal cash consideration”

** Will enter into a lease agreement for Triumph’s Red Oak, Texas, facility - Bombardier

** Bombardier to assume ongoing working capital investments and usual costs associated with program’s production ramp-up

** Including Thursday’s move, TGI still down 38.8 pct over past 12 months

** Bombardier shares last down 1.48 percent at C$1.99 (Reporting By Arundhati Sarkar in Bengaluru)

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