July 15, 2008
AAR Receives $26 Million Order for Container Roll-In/Out Platforms
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) announced today that it has received an order to provide containerized roll-in/out platforms (CROP) for the U.S. Army, valued at $26 million.
The specialized equipment, which is used primarily to transport ammunition, will be manufactured by AAR SUMMA Technology in Cullman, Alabama through June 2011. The order was placed as part of a five-year requirements contract that was established in 2005.
AAR SUMMA Technology is a leading provider of high-end sub-systems and precision machining, fabrication, welding and engineering services. AAR SUMMA Technology currently provides complex machined parts and assemblies for the F-35, F-22, F-16, F-18, C-130, Gulfstream Aircraft, Expeditionary Fighting Vehicle (EFV) and various missile and space programs. Headquartered in Huntsville, Alabama, AAR SUMMA Technology operates additional facilities in Cullman, Alabama and Lebanon, Kentucky, totaling over 420,000 square feet of manufacturing space.
AAR is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at http://www.aarcorp.com.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled "Risk Factors", included in the Company's May 31, 2007 Form 10-K. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company's control. The Company assumes no obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR's filings with the Securities and Exchange Commission.
CONTACT:
Chris Mason, Director of Corporate Communications of AAR CORP.
+1-630-227-2062
chris.mason@aarcorp.com
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Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has entered into a definitive agreement to divest its Landing Gear Overhaul business to GA Telesis. The transaction is valued at $51 million and is expected to close in the first quarter of the 2025 calendar year, subject to customary and regulatory closing conditions. The divestiture will be immediately accretive to margins and earnings.
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