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House Oversight Panel Says TransDigm Earned Profits Above 1,000 Percent On Multiple Programs

Cal Biesecker By
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House Oversight Panel Says TransDigm Earned Profits Above 1,000 Percent On Multiple Programs

Aerospace parts supplier TransDigm Group Inc. [TDG] overcharged the Pentagon more than 1,300 percent on five programs examined by the House Oversight and Reform Committee, the worst examples cited by the committee of excess profiteering by the company, which was the subject of a Defense Department audit report earlier this year for overcharging its customers for parts. A report by the committee released Wednesday says that TransDigm earned profits of 1,385 percent for actuator cover assemblies, 1,680 percent for hydraulic…

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