AAR and Ameco Signed Long-Term RB211 Repair Deal at MRO APAC
November 8, 2018
Partnership to provide unparalleled long-term support to AAR’s customers worldwide
SINGAPORE, November 8, 2018 – AAR (NYSE: AIR), a global provider of aftermarket aviation services for commercial airlines, signed a long-term contract with Ameco, a world MRO expert in RB211 repair and disassembly on Wednesday at MRO APAC. The deal positions AAR to provide long-term support to customers in the market for this Rolls-Royce engine.
The agreement includes AAR’s cooperation with Ameco to provide RB211 repair/exchange and leasing services, highlighting AAR’s flexibility for its customers in more than 100 countries around the world.
“We admire Ameco’s outstanding reputation as China’s largest RB211 shop,” said Sal Marino, Senior Vice President Aviation Services, AAR. “This agreement is another example of AAR’s success in expanding relationships within the Asia Pacific region.”
“We are looking forward to a long and stable partnership with AAR,” said Bin Teng, General Manager of Marketing and Sales, Ameco. “Our relationship will prove beneficial to both parties over the next 15 years.”
Ameco (Aircraft Maintenance and Engineering Corporation) is the biggest provider of technical support services for aircraft in China. The company, which was founded in 1989, is a joint venture between Air China (75%) and Lufthansa Technik (25%). Ameco specializes in the maintenance, repair and overhaul (MRO) of aircraft, engines, LDG, APU and components, as well as business jet completion and maintenance. Additional information can be found at www.ameco.com.cn.
AAR is a global aerospace and defense aftermarket solutions company that employs more than 6,000 people 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 and Composite Manufacturing operations. Additional information can be found at www.aarcorp.com.
Media contact: Daniela Pietsch, Vice President Corporate Marketing & Communications, at firstname.lastname@example.org 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 the estimated contract value. 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, 2018 and the Company’s Form 10-Q for the fiscal quarter ended February 29, 2020. 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.