AAR to Distribute Eaton's Fluid-Distribution Products to Support Airline Customers
August 14, 2014
Relationship designed to expandservice and support for commercial airlines worldwide
WOOD DALE, Illinois, August 14, 2014 — AAR (NYSE: AIR) announced today that power management company Eaton has appointed AAR as the exclusive distributor for aircraft fluid-distribution products, oil debris-monitoring technology, engine seals and other products for commercial airlines. The new, 10-year agreement, which goes into effect October 8, will strengthen airline service and support by providing operators with a comprehensive inventory of highly reliable products manufactured by Eaton for a wide array of commercial aircraft
“This new agreement with Eaton expands our relationship from military and defense into the commercial parts market and reinforces AAR’s ability to provide efficient and cost-effective solutions for Eaton’s aftermarket,” said John Holmes, Aviation Services Group Vice President – Aviation Supply Chain for AAR. “We are thrilled to deploy AAR’s global supply-chain infrastructure and sales team to support Eaton’s expansive portfolio of products.”
The new agreement with AAR highlights Eaton's broad product portfolio, which can be found on virtually all commercial aircraft in operation around the world. The new agreement includes Eaton's high-temperature and high-pressure duct joints, static and dynamic engine seals, pressure sensing and control products, and oil debris-monitoring products and systems.
“Eaton's new agreement with AAR is designed to provide airline customers with around-the-clock access to products they need to support aircraft availability and reliability," said Lasse Ostergaard, Vice President, Aftermarket Division for Eaton's Aerospace Group. "Our expanded relationship with AAR also increases Eaton’s capability to provide value to our airline customers by optimizing efficiencies in our customer’s Repairs and Spares supply-chain processes."
In the aerospace industry, Eaton is a leading supplier of products and technologies for hydraulic systems, fuel and inerting systems, motion control and engine solutions. Eaton's portfolio includes hydraulic engine-driven and electro-hydraulic pumps, control and storage equipment, distribution components and motors; engine and airframe fuel pumps, fuel-control valves, aerial- and ground-fueling equipment, lightning protection devices, and fuel-gauging and fuel-inerting systems; electrical generators, secondary flight-control actuators, door and utility actuators, and nose wheel steering and actuation-control systems; air-distribution products, pressure sensors, static and dynamic seals, and fluid-health monitoring products and systems; and aftermarket service and support. Eaton serves commercial and military aerospace, marine, and defense markets worldwide.
Eaton is a power management company with 2013 sales of $22 billion. Eaton provides energy-efficient solutions that help its customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 101,000 employees and sells products to customers in more than 175 countries. For more information, visit www.eaton.com.
Eaton media contact: John Ganzerla | email@example.com | 601-987-3323.
Through its Aviation Supply Chain businesses, AAR offers a suite of products and services ranging from new and aftermarket airframe and engine parts to complete end-to-end logistics programs involving inventory and repair management. AAR gives commercial and defense customers unmatched access to the aftermarket, maximizing service levels while minimizing total costs. AAR also maintains one of the industry’s most extensive inventories of airframe and engine parts and components and is one of the largest providers of power-by-the-hour component support. Capitalizing on its international network of distribution and repair centers and its cutting-edge tracking technology, AAR expedites delivery of products and services and customizes solutions for airline, MRO and OEM customers around the world.
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.