AAR Earns Nadcap Accreditation for Composites Manufacturing
July 9, 2014
With it, Clearwater, FL, facility can support all commercial and military products for Tier 1 customers
CLEARWATER, Florida, July 9, 2014 – AAR (NYSE: AIR) announces that its composites manufacturing facility here has earned Nadcap accreditation to fabricate and build composite parts and assemblies for commercial and military markets. The designation represents a milestone for AAR and distinguishes the company as an expert in the field of composites manufacturing capable of meeting the highest industry standards. Nadcap accreditation is a prerequisite for inclusion on the qualified product list for major aircraft OEMs including Boeing’s A10 and 777, Bombardier’s C-series, Sikorsky’s S-92, Gulfstream, UTC-UTAS A320 and Triumph programs.
The qualification follows an audit performed by the Performance Review Institute over the past five months. Satisfying these customer requirements demonstrates AAR’s commitment to quality and opens the door to new business opportunities and expansion of key accounts.
“Acquiring this coveted accreditation in only five months after stating intent to pursue it is a phenomenal feat,” said Daniel J. FitzPatrick, Vice President of Operations – Composites for AAR. “I commend the Clearwater employees for achieving this milestone on the very first attempt.”
Clearwater is the second AAR composites facility to earn Nadcap accreditation. Its Sacramento, CA, composites operation was accredited in September 2010 and re-certified in April 2014 with zero non-compliance findings, FitzPatrick said. “That’s almost unheard of in the industry,” he added.
Nadcap requires annual audits until the first two re-certifications achieve acceptable results. After that, audits are performed every 18 months. Unlike traditional third-party programs, Nadcap approval is granted based upon industry standards and reviewed by key business leaders who serve on the committee.
“Achieving Nadcap accreditation is not easy. It is one of the ways in which the aerospace industry identifies those who excel at manufacturing quality products through superior special processes,” said Joe Pinto, Vice President and Chief Operating Officer at the Performance Review Institute. “PRI is proud to support continual improvement in the aerospace industry by helping companies such as AAR in Clearwater to be successful.”
AAR is a leading one-stop-shop provider of primary and secondary structures, components and assemblies to OEMs and Tier 1 customers.
Created in 1990 by SAE Inc., Nadcap is administered by the not-for-profit Performance Review Institute. PRI exists to advance the interests of the mobility and related industries through development of performance standards and administration of quality assurance, accreditation and certification programs, as well as related activities for the benefit of industry, government and the general public. PRI works closely with industry to understand their emerging needs and offers customized solutions in response. Learn more at www.pri-network.orgor contact PRI at PRINadcap@sae.org.
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, 2013. 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.