AAR Celebrates Signing of a Partnering Agreement with the Royal Netherlands Air Force
November 21, 2013
AAR ACS — Amsterdam to offer new and expanded capabilities
WOOD DALE, Illinois — AAR (NYSE: AIR) announced today that representatives from its Dutch-based AAR Aircraft Component Services – Amsterdam business (AAR ACS) and officials from the Netherlands Ministry of Defense’s Royal Netherlands Air Force (RNLAF) signed a partnering agreement that allows AAR ACS to provide new and expanded component repair services using equipment at Logistic Center Woensdrecht (LCW). The agreement paves the way for AAR ACS to establish its own component repair operations on the premises of Airbase Woensdrecht.
The signing took place during a ceremony at the 25th NIDV Symposium and Exhibition in the Netherlands, initiating an agreement that is intended to foster utilization of LCW facilities and expand AAR ACS’s Apache and Chinook component repair capabilities for the RNLAF and other countries.
“We are proud to further expand our business relationship with the Royal Netherlands Air Force through this agreement that will benefit both organizations, while supporting the mission readiness of the Air Force fleet for when duty calls,” said Mat van Vugt, General Manager of AAR Aircraft Component Services in Amsterdam. “It is an honor to assist the RNLAF with their goals of increasing aircraft availability and reducing operational costs for the Air Force.”
The RNLAF partnering agreement is related to a previously announced licensing arrangement between AAR and Boeing to support the RNLAF’s LCW and expand AAR’s rotorcraft service offerings in the region. For nearly 50 years, AAR ACS has operated in Amsterdam providing specialized component repair services for various commercial and military aircraft, including KDC-10s, F-16s, C-130s and NATO AWACS B707s. The addition of the RNLAF fleet support increases AAR ACS’s regional capabilities and employment base at the Amsterdam location. AAR ACS also has other repair depot responsibilities in the European region, including the Royal Air Force base at Waddington in the United Kingdom.
“This partnering agreement with the Royal Netherlands Air Force will help to maximize the readiness and utilization of our fleet at reduced cost,” said Lt. Gen. A. Schnitger, Commander of the Royal Netherlands Air Force. “It is an important milestone for the Royal Netherlands Air Force and AAR Amsterdam.”
The LCW is the defense depot of the Royal Netherlands Air Force and center of expertise for (air) weapon systems, communication systems and mission support. The LCW provides logistics, system integration, maintenance, repair, overhaul and upgrade, and supports to the operational users and other partners by creating synergy between its technical and logistical expertise in the Netherlands and abroad. AAR ACS currently provides component repair services for the RNLAF fleet through various contracts.
AAR is a global aerospace and defense aftermarket solutions company that employs 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 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 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, 2013 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.