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Triumph Group Inc. (NYSE: TGI) investors seemed pleased on Friday after the firm announced that it is exploring strategic alternatives for its Aerospace Structures business unit as part of its continued portfolio reshaping, debt reduction and cash generation efforts.

Building on divestitures, plant consolidations and program restructuring over the past three years, this decision reflects Triumph’s goal of simplifying the company and enabling predictable and profitable growth in its core Systems, Aftermarket and Interiors segments.

The company has not set a timetable for the conclusion of its review of strategic alternatives, and it does not intend to comment further unless and until the board has approved a specific course of action.

Daniel J. Crowley, Triumph’s president and chief executive, commented:

Aerospace Structures has made significant operational improvements over the last several years while updating its mix of programs and sites to reduce risk to both customers and Triumph shareholders. These actions expand the option set for Aerospace Structures’ future as their dedicated employees and suppliers continue to deliver on customer commitments and field new technologies and automation to enhance their competitiveness.

Excluding Friday’s move, Triumph had outperformed the broad markets, with its stock up about 86% year to date. However, in the past 52 weeks the stock was actually down 19%.

Shares of Triumph Group were last seen up about 14% at $24.35, in a 52-week range of $11.16 to $27.45. The consensus price target is $25.09.