AAR Amends OEM Support Agreement with Liebherr-Aerospace
April 13, 2015
Updates expand AAR’s comprehensive repair solution for Bombardier fleet
WOOD DALE, Illinois, April 13, 2015 — AAR (NYSE: AIR) has amended a long-term general terms agreement with Liebherr-Aerospace. Under terms of the deal, Liebherr-Aerospace will provide full support of AAR’s nose-to-tail comprehensive solution on the Bombardier fleet. The services are performed by Liebherr-Aerospace Saline, Inc., and Liebherr-Aerospace Toulouse SAS, which is the Original Equipment Manufacturer (OEM). Under the existing agreement, Liebherr-Aerospace grants access to technical documentation, spare parts and technical support to AAR’s component repair centers in Garden City, New York, and Amsterdam, both of which perform repairs on Liebherr-Aerospace equipment.
The agreement strengthens AAR's position in the aviation component support business and covers products Liebherr-Aerospace designs and manufactures for Bombardier, including the integrated air management system (ATA 21, 25, 30, 36) on board the CRJ700/900/1000 regional aircraft.
"Not only does this relationship enhance AAR's ability to provide comprehensive support for the Bombardier fleet, it also allows us to provide customers with OEM quality at competitive prices, along with technical support including engineering and reliability improvements," said Frank Landrio, Senior Vice President – Strategy and OEM Development.
Alex Vlielander, President, Liebherr-Aerospace Saline, concurred on the benefits of the expanded partnership. “Successfully working with AAR on various programs over the years has resulted in strong cooperation and trust. This agreement builds on that mutual appreciation and allows each company to focus on what it does best -- its core competency.”
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.
Media contact: Daniela Pietsch, Vice President Corporate Marketing & Communications, at email@example.com or +1 630-227-5100.
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, including, but not limited to,statements regarding the agreement to establish The Module Factory,AAR’s estimate that it will manage the teardown, repair, marketing and sales of spare parts of FTAI’s CFM56 engine pool totaling over 200 engines and growing, AAR’s ability to leverage its extensive USM capabilities to offer CFM56 serviceable engine material to the global commercial aviation aftermarket, that the partnership positions AAR well to service the growing demand for USM on a leading engine platform as customers increasingly prioritize more cost-efficient solutions, and the belief that serviceable engine products, combined with FTAI’s proprietary products and partnerships, completes its unique suite of CFM56 aftermarket offerings aimed at delivering the lowest cost per cycle solution to airline customers. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. 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, 2014. 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.