Benzinga | Jan 31, 2022 03:20PM EST

Aerotrax Inks MoU With Triumph On MRO Service Management System

* Aerotrax Technologies, Inc. has signed a Memorandum of Understanding with Triumph Group Inc (NYSE:TGI) to commercially pilot the Aerotrax Maintenance, Repair, and Overhaul (MRO) Service Management System.

* Aerotrax is an enterprise software company focused on digitally tracking the entire lifecycle of every plane.

* The engagement will use Aerotrax's proprietary blockchain-based digital infrastructure to execute repair orders, manage customer requirements, and ensure the exchange of part-related data.

* "Blockchain technology paired with Triumph's internal operating system and personnel will allow Triumph to streamline the repair transaction process and gain efficiencies that will benefit Triumph MRO customers," commented Jim Berberet, President of Triumph Product Support.

* Price Action: TGI shares traded higher by 2.14% at $18.16 on the last check Monday.