AAR Awarded New Contract from Bell Helicopter Textron Inc. to Provide Logistics Support for T64 Engines
April 22, 2015
AAR Defense Systems & Logistics to Supply Warehouse and Logistics Services for Engine Upgrade Program
HAVELOCK, N.C., April 22, 2015 – AAR (NYSE: AIR) announced today that Bell Helicopter Textron Inc. (“Bell Helicopter”) awarded its Defense Systems & Logistics (DS&L) business unit a contract providing warehouse and logistics services in support of upgrading T64 engines for the Bell V-280 Valor technical demonstrator aircraft. The two-year agreement is the first between the global aerospace and defense contractor AAR and Bell Helicopter, producer of commercial and military aircraft. AAR will support this effort from its logistics operation located in Havelock, N.C.
Please follow this linkto access an image gallery of the Bell V-280 tiltrotor.
The Bell V-280 Valor is a third-generation tiltrotor aircraft participating in the U.S. Army’s Future Vertical Lift (FVL) program. The V-280 Valor design was selected by the U.S. Army for the Joint Multi-Role Technology Demonstrator (JMR-TD) phase to serve as a precursor to FVL, a program which will create the next generation of vertical lift aircraft for the U.S. military. Bell Helicopter anticipates using a version of the Future Affordable Turbine Engine (FATE) in the production version of the V-280 Valor.
“We are pleased that Bell Helicopter has the confidence in AAR DS&L to support this important engine upgrade,” said Terry Comer, Program Manager, DS&L for AAR. “Our well-established presence in the area and our experience with the T64 and streamlining logistics expertise contributed to winning this contract.”
AAR has provided logistics support to military customers and original equipment manufacturers (OEMs) on Performance Based Logistics (PBL) contracts in North Carolina for more than a decade. The company’s DS&L group has inventory and sales offices strategically located around the globe and operates warehouse facilities near several U.S. military bases.
AAR DS&L offers integrated supply chain management services solutions as part of AAR’s Aviation Services group and provides support to the U.S. government and its allies. DS&L delivers comprehensive logistics solutions that span the aviation supply chain and the globe.
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.