October 11, 2016
AAR Named Eaton's Distributor for Selected Fuel and Motion Control Products and Airline Customers
Agreement to Enhance OEM Aftermarket Service and Support for Commercial Airlines
WOOD DALE, Illinois — AAR (NYSE: AIR) today announced that its OEM Aftermarket Solutions group has been named distributor for selected global commercial airline customers served by Eaton's Aerospace Group. Eaton products covered by the agreement are manufactured by the Aerospace Group's Fuel and Motion Control Systems Division and include refueling sub-systems, fuel pumps, door and landing gear actuators, secondary flight control systems and piece part sub-assemblies.
The new contract builds on AAR’s existing aftermarket relationship with Eaton’s Fluid and Electrical Distribution Division, which spans both commercial and military markets globally.
“We are excited to provide improved service for Eaton's commercial airline customers while offering Eaton a unique value proposition resulting from our sole focus on aftermarket support, global presence, flexibility, and breadth of OEM aftermarket services,” said John Holmes, Chief Operating Officer, AAR Aviation Services.
“Eaton chose AAR based on the success we've achieved in our existing relationship and our shared focus on customer satisfaction," said Mark Schmidt, Vice President of Aftermarket, Eaton's Aerospace Group. "We are confident that AAR will continue providing outstanding levels of service and support for Eaton's commercial and military customers."
About Eaton
In the aerospace industry, Eaton is a leading supplier of products and technologies for hydraulic systems, fuel and inerting systems, motion control and engine solutions. Eaton's portfolio includes hydraulic engine-driven and electro-hydraulic pumps, control and storage equipment, distribution components and motors; engine and airframe fuel pumps, fuel-control valves, aerial- and ground-fueling equipment, lightning protection devices, and fuel-gauging and fuel-inerting systems; electrical generators, secondary flight-control actuators, door and utility actuators, and nose wheel steering and actuation-control systems; air-distribution products, pressure sensors, static and dynamic seals, and fluid-health monitoring products and systems; and aftermarket service and support. Eaton serves commercial and military aerospace, marine, and defense markets worldwide.
Eaton is a power management company with 2015 sales of $20.9 billion. Eaton provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 96,000 employees and sells products to customers in more than 175 countries. For more information, visit www.eaton.com.
About AAR
AAR is a global aftermarket solutions company that employs more than 6,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; engineering services and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
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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 Form 10-K for the fiscal year ended May 31, 2018. 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 update 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.
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AAR named one of America’s Most Responsible Companies 2025 by Newsweek
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, is proud to announce it has been recognized by Newsweek as one of America’s Most Responsible Companies 2025. This prestigious award is presented in collaboration with Statista, the world-leading statistics portal and industry ranking provider. The awards list was announced earlier this month and can currently be viewed on Newsweek’s website.
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AAR announces divestiture of non-core Landing Gear Overhaul business to optimize portfolio
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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AAR resolves Foreign Corrupt Practices Act investigations with the DOJ and SEC
Wood Dale, Illinois — AAR CORP. (NYSE: AIR) (“AAR” or the “Company”) announced today that it has reached resolutions with the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) to resolve previously disclosed potential violations of the U.S. Foreign Corrupt Practices Act (the “FCPA”) relating to certain transactions signed in 2016 and 2017 in Nepal and South Africa.
