AAR Expands ATR Product Line by Acquiring Island Air Inventory, Tooling
October 23, 2017
Purchase deepens Company’s commitment to serve the global ATR component support market
WOOD DALE, Illinois, October 23, 2017 – AAR (NYSE:AIR), a leading integrator of aviation supply chain solutions, recently expanded its ATR parts offerings by purchasing the entire ATR inventory, plus tooling, of Honolulu-based Island Air Inc., which recently phased out its ATR operations.
The acquisition deepens AAR’s commitment to providing global, customer-facing solutions to the ATR market. The inventory will be integrated into AAR’s existing ATR supply chain and strategically positioned at the Company’s distribution hubs in the United States, Singapore and Hannover, Germany.
This is the first ATR inventory package AAR has purchased since entering the ATR market earlier this year when it bought ATR inventory from ASL Aviation subsidiary ACLAS Global as part of a PBH agreement with ASL. AAR has a dedicated ATR product line team based in the UK to serve ATR customer parts requirements globally.
“The acquisition of the Island Air inventory and tooling re-affirms our commitment to the ATR family, operators and MROs,” said Gordon Bilbey, General Manager, ATR Parts Supply.
“Through our dedicated UK ATR hub and AAR’s worldwide regional sales offices, we are committed to becoming the preferred choice for ATR aftermarket support.”
“For many years AAR has been at the forefront of airframe and engine component sales and support, and we are extremely pleased that this now includes the ATR platform,” said Sal Marino, Vice President, Parts Supply, AAR.
For more information about AAR parts inventory for ATR aircraft, contact email@example.com.
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 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 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, 2017 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.