Triumph Group completed its deal with Spirit AeroSystems to take over production of the Gulfstream G650 and G280 wing programs in Tulsa, Okla. Under an agreement announced in December, Spirit paid Triumph $160 million in cash and assets necessary to assume the Gulfstream wing work. Triumph will continue to produce the wing assemblies in Tulsa, operating the program as Triumph Aerostructures-Vought Aircraft Division.

The program had been costly for Spirit, and it had long sought a buyer for much of its Tulsa work, having burned close to $300 million on the Gulfstream wing programs over the past two years, according to J.P.Morgan analyst Joseph Nadol III.

The $160 million is expected to cover the immediate costs of the programs over the next three years, improving the long-term profitability potential for Triumph, which ultimately expects its operating efficiencies to shave costs. Triumph estimates the transfer will add about $250 million to its annual revenue. Triumph president and CEO Jeffry Frisby said the additional wing work strengthens the company’s position as a tier-one supplier and improves its customer balance and platform diversity within its aerostructures segment.