General Donlee Canada Inc. Announces Closing of Plan of Arrangement with Triumph Group, Inc.

TORONTO, Oct. 4, 2013 /CNW/ - General Donlee Canada Inc. (TSX: GDI; the "Company" or "General Donlee") is pleased to announce the closing of its previously announced transaction with Triumph Group, Inc. ("Triumph") pursuant to which a wholly-owned subsidiary of Triumph acquired all of the issued and outstanding common shares of General Donlee. The transaction was completed pursuant to a plan of arrangement (the "Arrangement") in accordance with the Canada Business Corporations Act, which was approved by the Superior Court of Justice (Ontario) on October 1, 2013. Shareholders of General Donlee approved the Arrangement on September 30, 2013. All conditions of closing have now been satisfied by both parties.

The acquisition provides Triumph with 100 per cent control of General Donlee Canada Inc.

Pursuant to the Arrangement, General Donlee shareholders will receive $5.50 per General Donlee common share in cash. The transaction represents an enterprise value of approximately $114 million (approximately US$110 million).

With the completion of the Arrangement, General Donlee's shares have now been halted from trading on the Toronto Stock Exchange ("TSX") and are expected to be delisted from the TSX shortly.

Shareholders who held their shares through a broker, investment dealer, bank, trust company or other nominee or intermediary, should follow the instructions provided by such nominee or intermediary. Registered shareholders must complete and sign the letter of transmittal and deliver it and the other documents required by it to Computershare Investor Services Inc., as depository, in order to receive their cash consideration. A letter of transmittal was mailed to registered shareholders in early September, 2013. Details of the required process are set forth in General Donlee's management information circular dated September 3, 2013, a copy of which is available under General Donlee's profile at www.sedar.com.

Any questions regarding the cash consideration, including any request for another letter of transmittal, should be directed to your broker, if applicable, or the depositary, Computershare Investor Services Inc., at its North American toll-free number: 1-800-564-6253 or by downloading such documents from General Donlee's profile on SEDAR at www.sedar.com.

About General Donlee

General Donlee is a leading diversified manufacturer of precision-machined products serving the commercial, military, and general aerospace industries as well as the nuclear, power generation, oil & gas and capital equipment end markets. General Donlee's operating strategy focuses on targeting niche markets for products that are aligned with its sophisticated manufacturing capabilities and skilled workforce. Further information can be found in the disclosure documents filed by General Donlee with the securities regulatory authorities, available at www.sedar.com or through the Company's website at www.generaldonlee.com.

About Triumph

Triumph Group, Inc. (NYSE:TGI), headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.

SOURCE: General Donlee Canada Inc.

Garen Mikirditsian
President & Chief Executive Officer
Telephone: [phone]

Robert S. Kheir, MBA, CMA
Chief Financial Officer
Telephone: [phone]