AAR and Rags of Honor Work Together to Create Jobs for Veterans
November 11, 2014
Global aerospace and defense contractor expands its efforts to give back to veterans
Wood Dale, Illinois, November 11, 2014 – Rags of Honor, a screen-printing organization in Chicago created to employ vets, today announced a partnership with global aerospace and defense company AAR that will provide the capital that Rags of Honor needs to expand and create more jobs.
Rags of Honor was founded in Chicago in 2012 to employ homeless veterans and has started to gain traction by creating custom screen-print designs and apparel for the Chicago Blackhawks, Millennium Park Shop, Rutgers University, Northwestern University and Walgreens. The company also has an online store that offers fashionable apparel featuring military branch insignia. All of the branded apparel carries their tagline: “They had our backs, let’s keep the shirt on theirs.”
AAR has a long history of donating to veteran causes and organizations focused on families and education. AAR Chairman and CEO David P. Storch recognized investing in Rags of Honor as an opportunity to take AAR’s commitment to the next level.
“I wanted AAR to help establish a sustainable business that can continue to grow and create jobs and profit for veterans, rather than being dependent on donations. In addition to investing in the company, AAR is also buying our apparel from them, and I will encourage other companies to do the same,” said Storch. “Twenty percent of AAR’s employees are veterans, and we appreciate the discipline and commitment they bring to their work. Our investment in Rags of Honor will have a good ROI for AAR, Chicago’s economy and the veterans.”
“David is a special person who really gets what the company is trying to do,” said Mark Doyle, founder of Rags of Honor. “He understands my vision to honor veterans’ service by providing them with the means to continue forward with the dignity they deserve, and AAR is providing the capital we need to make it a reality. It is a great partnership.”
About Rags of Honor LLC
Rags of Honor is a top-quality screen-printing organization that was founded in Chicago to employ veterans.The goal is to make a difference for those who have served our country by building a company that honors their service. We pay a living wage, offer training and provide the skills vets need to continue forward with the dignity they deserve. Our motto is: “They had our backs, let’s keep the shirts on theirs.” Every Rags of Honor item is screen printed, packed and shipped to you by a U.S. military veteran.
More information can be found at www.ragsofhonor.us.
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 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, 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.