AAR ACQUIRES BROWN INTERNATIONAL
WOOD DALE, ILLINOIS (April 3, 2007) - AAR (NYSE: AIR) today announced that it has acquired Brown International Corporation (Brown), a privately held defense contractor that provides engineering, design, manufacturing and systems integration services. The acquired business will operate as part of AAR's Structures and Systems segment.
"There are excellent synergies between Brown's technical and systems integration expertise and AAR's mobility products capabilities," said David P. Storch, Chairman, President and Chief Executive Officer of AAR CORP. "The Brown acquisition enables us to provide defense customers with a wider range of products and services to meet the demand for increasingly complex and specialized shelter products."
Brown was established in 1985 and has become a leading provider of innovative products and support for command and control, communications and intelligence systems. Brown designs and equips tactical operations centers, data links and support trailers, primarily for the U.S. armed services and major U.S. Defense industries. The acquired business will continue to operate in Huntsville, Alabama, as part of AAR’s Mobility Systems division.
AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline 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 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, 2006 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.