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Exhibit 10.14

SECOND AMENDMENT TO LOAN DOCUMENTS

        This SECOND AMENDMENT TO LOAN DOCUMENTS ("Amendment") dated November 21,
2002 (with an effective date of December 2, 2002) is made by and among TRIUMPH
GROUP, INC., a Delaware corporation, (the "Borrower") and PNC BANK, NATIONAL
ASSOCIATION, a national banking association as Agent for the Banks under the
Amended and Restated Credit Agreement referred to herein (hereinafter referred
to in such capacity as the "Administrative Agent"), WACHOVIA BANK, NATIONAL
ASSOCIATION, in its capacity as syndication agent for the Banks under such
agreement (hereinafter referred to in such capacity as the "Syndication Agent"),
BANK OF AMERICA, N.A., in its capacity as documentation agent for the Banks
under such agreement (herein referred to in such capacity as the "Documentation
Agent") and CITIZENS BANK in its capacity as co-agent for the Banks under such
agreement (hereinafter referred to in such capacity as the "Co-Agent") and PNC
BANK, NATIONAL ASSOCIATION; WACHOVIA BANK, NATIONAL ASSOCIATION; CITIZENS BANK;
BANK OF AMERICA, N.A.; THE BANK OF NEW YORK; ALLFIRST BANK; NATIONAL CITY BANK;
FLEET NATIONAL BANK; SUNTRUST BANK; and FARMERS FIRST BANK as the Banks.

        Reference is made to the Amended and Restated Credit Agreement dated
October 16, 2000 by and among the Borrower, the Banks, the Administrative Agent,
the Syndication Agent, the Documentation Agent and the Co-Agent, as amended on
February 12, 2002 (as so amended, the "Agreement") pursuant to which the Banks
extended to the Borrower a $350,000,000 Revolving Credit Facility. The
obligations under the Agreement and the Loan Documents are evidenced by the
Borrower's Notes payable to the Banks. (Capitalized terms used herein not
otherwise defined shall have the meanings provided for in the Agreement.)

        The Borrower has requested, and subject to the terms hereof, the Agent
and the Banks have agreed, inter alia, that: the sale of the Senior Notes
described herein be permitted and, effective upon such sale, that the
Commitments be reduced to an aggregate of $250,000,000, and other agreements
referred to herein be made.

        Accordingly, the Borrower, the Banks and the Agent have agreed that the
Agreement be amended as provided herein to provide therefor, effective as of
December 2, 2002.

        NOW, THEREFORE, in consideration of the foregoing and for other
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree as follows:

        1.    Amendment to Agreement.    

        (a)  Section 1.1 of the Agreement is hereby amended by adding the
following definitions to read in their entirety as follows:

        Extending Bank shall have the meaning assigned to such term in
Section 2.9.2 [Approval by 67% Bank].

        Non-approving Bank shall have the meaning assigned to such term in
Section 2.9.2 [Approval by 67% Banks].

        Senior Notes shall mean, collectively (a) the $80,000,000 6.06% Series A
Senior Notes due December 2, 2012 of the Borrower and (b) the $70,000,000 5.59%
Series B Senior Notes due December2, 2012 of the Borrower.

        Senior Note Sale shall mean the sale and purchase of the Senior Notes on
or about December 2, 2002 pursuant to the terms of those certain separate Note
Purchase Agreements dated November 21, 2002 by and between the Borrower and each
of the purchasers party thereto.

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        (b)  Section 1.1 of the Agreement is further amended by amending certain
definitions as follows:

        (i)    The definition of "PIK Subordinated Indebtedness" is hereby
amended and restated to read in its entirety as follows:

PIK Subordinated Indebtedness shall mean Indebtedness of the Borrower which
(a) by its terms is subordinated to the Obligations of the Borrower to the Banks
on the same terms and conditions as any other Indebtedness to which it is
subordinated and (b) has no terms that require any payment of principal or
interest prior to June 2, 2013.

        (ii)  The definition of "Revolving Credit Commitment" is hereby amended
by adding at the end thereof an additional sentence to read as follows:

As of December 2, 2002, after giving effect to the Senior Note Sale, the
aggregate Commitments equal $250,000,000.

        (iii)  The definition of "Revolving Credit Commitment" is hereby further
amended by adding at the end thereof an additional sentence to read as follows:

Effective upon the completion of the Senior Note Sale, each Bank's respective
Revolving Credit Commitments are reduced and Schedule 1.1(B) is hereby amended
to reflect aggregate Commitments of $250,000,000 by replacing the grid set forth
therein with the following:

Triumph Group, Inc.

SCHEDULE 1.1(B)
(as of the date of the Second Amendment to Loan Documents)

BANK NAME

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  AMOUNT OF
COMMITMENT FOR
REVOLVING CREDIT
LOANS ($)

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  PERCENTAGE (%)

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PNC Bank, National Association   53,571,429   21.43 Wachovia Bank, National
Association   42,857,143   17.14 Bank of America, N.A.   35,714,286   14.29
Citizens Bank   32,142,857   12.86 National City Bank   14,285,714   5.71 Fleet
National Bank   28,571,429   11.43 SunTrust Bank   14,285,714   5.71 Allfirst
Bank   12,500,000   5.00 The Bank of New York   8,928,571   3.57 Farmers First  
7,142,857   2.86 Total   250,000,000   100

        (c)  The Agreement is further amended as follows:

        (i)    Section 2.9 [Extension by Banks of the Expiration Date] is hereby
amended and restated to read in its entirety as follows:

        2.9  Extension by Banks of the Expiration Date.

        2.9.1  Requests; Approval by All Banks.

The Borrower may request an extension to a specified date of the Expiration Date
by written notice to the Banks and the Banks agree to respond to the Borrower's
request for

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an extension no later than thirty (30) days following receipt of the request;
provided, however, that the failure of any Bank to respond within such time
period shall not in any manner constitute an agreement by such Bank to extend
the Expiration Date. If all Banks elect to extend, the Expiration Date shall be
extended for the period so requested. If one or more Banks decline to extend or
do not respond to Borrower's request, the provisions of Section 2.9.2 [Approval
by 67% Banks] shall apply.

        2.9.2.  Approval by 67% Banks.

In the event that one or more Banks do not agree to extend the Expiration Date
or do not respond to Borrower's request for an extension within the time
required under Section 2.9.1 [Requests; Approval by All Banks] (each a
"Non-approving Bank"), but 67% of the Banks (measured by their Ratable Shares
and not per capita) agree to such extension within such time (each such agreeing
Bank being an "Extending Bank"), then, simultaneously with the execution and
delivery by all parties necessary thereto of documents evidencing such
extension, the Commitment of each Non-approving Bank shall automatically be
terminated (after which time such Non-approving Bank shall cease to be a "Bank"
hereunder) and the aggregate Commitments shall be reduced by the amount of such
terminated Commitments (the amount of such reduction in the Commitments referred
to herein as the "Commitment Reduction"). The Borrower shall have the right to
increase the Revolving Credit Commitment by an amount equal to the Commitment
Reduction in accordance with the terms and conditions of Section 2.1.2 [Right to
Increase Commitments] hereof, provided, however, (a) the aggregate of any such
increases shall not exceed the Commitment Reduction, and (b) and, for so long as
a Commitment Reduction exists, the limitations on increases in the Revolving
Credit Commitment set forth in Section 2.1.2 [Right to Increase Commitments]
shall not apply. In the event that the Agent shall become a Non-approving Bank,
the provisions of this Section 2.9 [Extension by Banks of the Expiration Date]
shall be subject to Section 9.14 [Successor Agent]. Nothing in this
Section 2.9.2 shall expand the options provided in Section 4.4.2 [Replacement of
a Bank].

        (ii)  Section 3.1 [Interest Rate Options] is hereby amended by replacing
the words "five (5) Borrowing Tranches" with the words "eight (8) Borrowing
Tranches."

        (iii)  Section 7.2.1 [Indebtedness] is hereby amended by placing a
semicolon at the end of item (viii) and adding a new items (ix) and (x) to read
as follows:

        (ix)  Indebtedness under the Senior Notes; and

        (x)  Notes issued in favor of the seller as consideration for an
acquisition permitted under Section 7.2.6(ii) hereof; provided that: (a) the
debt evidenced by such notes is included in the Consideration for such
acquisition, and (b) such notes are subordinated in all respects to the
Obligations; provided, further, that such notes may be repaid in accordance with
their terms at or before the Expiration Date so long as no Event of Default or
Potential Default then exists or will result from such payment.

        (iv)  The last paragraph of Section 7.2.1 [Indebtedness] is hereby
amended and restated as follows:

Notwithstanding the foregoing, the sum of the outstanding principal amount of
(A) all Indebtedness of Subsidiaries, including Guaranties (other than the
Guaranty and Suretyship Agreement executed in connection herewith), plus
(B) secured and unsecured Indebtedness of the Borrower (not including
Indebtedness described in subsections (vi) and (ix) of this Section 7.2.1, or
the Obligations hereunder) shall not at any time exceed 20% of Consolidated Net
Worth.

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        (v)  Section 7.2.19 [Negative Pledges] is hereby amended by adding at
the end thereof an additional sentence to read as follows: "Notwithstanding the
foregoing, the Senior Notes may contain negative pledges."

        (vi)  A new Section 7.2.21 is hereby added to read in its entirety as
follows:

        7.2.21  Senior Notes

The Senior Notes are by their terms unsecured, and those certain separate Note
Purchase Agreements pursuant to which the Senior Notes were issued contain no
restrictions on negative pledges which apply to the Obligations. The Senior
Notes are by their terms due on December 2, 2012. The Senior Note Sale shall be
effective on or about December 2, 2002.

        (vii) Section 8.1.5 [Defaults in Other Agreements or Indebtedness] is
hereby amended by adding at the end thereof a new phrase to read in its entirety
as follows:

or, without limiting the foregoing, there occurs any "Event of Default" under
those certain separate Note Purchase Agreements dated November 21, 2002 pursuant
to which the Senior Notes were sold.

        (viii) Section 10.1 [Modification, Amendments or Waivers] is hereby
amended by adding at the end thereof a new sentence to read as follows:

Notwithstanding anything in this Section 10.1 to the contrary, the provision of
Section 2.9 [Extension by Banks of the Expiration Date]shall govern the matters
set forth therein.

        2.    Effectiveness of Reduction of Commitments.    This Amendment shall
be effective on December 2, 2002; provided that the effectiveness of the
reduction of each Bank's Commitment is conditioned on the completion of the
Senior Note Sale.

        3.    Miscellaneous.    

        (a)  All of the terms, conditions, provisions and covenants in the
Notes, the Agreement, the Loan Documents, and all other documents delivered to
the Banks and the Agent in connection with any of the foregoing documents and
obligations secured thereby shall remain unaltered and in full force and effect
except as modified by this Amendment and are hereby ratified and confirmed.

        (b)  This Amendment shall be governed by and construed in accordance
with the laws of the Commonwealth of Pennsylvania.

        (c)  Each and every one of the terms and provisions of this Amendment
shall be binding upon and shall inure to the benefit of the Borrower, the Banks
and the Agent and their respective successors and assigns.

        (d)  This Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original as against any party whose signature
appears thereon, and all of which shall constitute but one and the same
instrument.

        (e)  The execution and delivery of this waiver shall not be construed to
establish a course of conduct or imply that any other, future or further
waivers, consents or forbearance shall be considered, provided or agreed to.

        (f)    The Borrower represents and warrants that there exists no Event
of Default or Potential Default.

        (g)  The Borrower represents and warrants that all of the Persons
required to be "Guarantors" are in fact Guarantors, have become a party to the
Guaranty and Suretyship

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Agreement by executing and delivering to the Administrative Agent on behalf of
the Banks the guarantor joinder attached thereto as Exhibit A, and have executed
this Amendment on the date hereof.

        (h)  On the date hereof, the Borrower has paid to the Agent and the
Banks the fees described in the Summary of Terms and Conditions dated
September 3, 2002.

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        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

ATTEST:   TRIUMPH GROUP, INC.
Title:
/s/  KEVIN E. KINDIG      

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By:
/s/  JOHN R. BARTHOLDSON      

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      Title: Senior Vice President and CFO [Seal]        
 
 
 
PNC BANK, NATIONAL ASSOCIATION, individually and as Administrative Agent
 
 
 
By:
/s/  FRANK A. PUGLIESE      

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      Title: Vice President
 
 
 
WACHOVIA BANK, NATIONAL ASSOCIATION, successor to First Union National Bank,
individually and as Syndication Agent
 
 
 
By:
/s/  SCOTT SANTACRUZ      

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      Title: Director
 
 
 
CITIZENS BANK individually and as Co-Agent
 
 
 
By:
/s/  WARREN ENGLE      

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      Title: Vice President
 
 
 
BANK OF AMERICA, N.A., individually and as Documentation Agent
 
 
 
By:
/s/  ROBERT SEARSON      

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      Title: Senior Vice President
 
 
 
THE BANK OF NEW YORK
 
 
 
By:
/s/  WALTER C. PARELLI      

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      Title: Vice President
 
 
 
ALLFIRST BANK
 
 
 
By:
/s/  THEODORE K. OSWALD      

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      Title: Vice President
 
 
 
NATIONAL CITY BANK
 
 
 
By:
/s/  THOMAS J. MCDONNELL      

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      Title: Senior Vice President
 
 
 
FLEET NATIONAL BANK
 
 
 
By:
/s/  KENNETH WOOD      

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      Title: Senior Vice President
 
 
 
SUNTRUST BANK
 
 
 
By:
/s/  STEPHEN DERBY      

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      Title: Director
 
 
 
FARMERS FIRST BANK
 
 
 
By:
/s/  MICHAEL GROTHE      

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      Title: Vice President

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Accepted and agreed by
Guarantors as follows:
TRIUMPH BRANDS, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
TRIUMPH GROUP ACQUISITION CORP.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
TRIUMPH GROUP ACQUISITION HOLDINGS, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
THE TRIUMPH GROUP OPERATIONS, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
DV INDUSTRIES, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
HTD AEROSPACE, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
TRIUMPH PRECISION, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
RALEE ENGINEERING CO.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President

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TRIUMPH PRECISION CASTINGS CO.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
AEROSPACE TECHNOLOGIES, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
FRISBY AEROSPACE, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
TRIUMPH CONTROLS, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
ADVANCED MATERIALS TECHNOLOGIES, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
HYDRO-MILL CO.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
STOLPER-FABRALLOY COMPANY
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
NU-TECH INDUSTRIES, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President

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LEE AEROSPACE, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
ACR INDUSTRIES
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
AIRBORNE NACELLE SERVICES, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
CHEM-FAB CORPORATION
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
TRIWESTERN METALS COMPANY
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
THE TRIUMPH GROUP OPERATIONS HOLDINGS, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President
EFS AEROSPACE, INC.
By:
/s/  RICHARD M. EISENSTAEDT      

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Title: Vice President

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QuickLinks

SECOND AMENDMENT TO LOAN DOCUMENTS
Triumph Group, Inc. SCHEDULE 1.1(B) (as of the date of the Second Amendment to
Loan Documents)