AAR Mobility Systems Awarded $25.3 Million in Task Orders from USAF to Produce and Repair 463L Cargo Pallets
July 19, 2018
CADILLAC, Michigan, July 19, 2018 – AAR (NYSE: AIR) Mobility Systems has been awarded task orders valued at $25.3 million from the U.S. Air Force for the production and repair of 463L cargo pallets. The cargo pallets will be manufactured and repaired in Cadillac. The two task orders are expected to be completed by June 30, 2019, and are tied to a previously awarded contract, which brings the total value to $143 million.
“Mobility Systems takes pride in being the sole manufacturer and authorized repair center for the 463L pallets for the U.S. Air Force. These two task orders ensure that the current inventory stays fully operational while also increasing inventory by up to 6,000 new pallets,” said Jeffery Jackson, Vice President, Business Development, AAR Mobility Systems.
AAR Mobility Systems has been providing 463L systems cargo pallets to the U.S. Armed Forces since the early 1960s. The 463L USAF design uses a lightweight balsa wood core that continues to provide unparalleled strength-to-weight performance and reliability compared to alternative commercial pallet designs.
About AAR Mobility Systems
AAR Mobility Systems is a leading global supplier of rapid deployment equipment, including mobile tactical shelters, pallets and expeditionary containers that enhance the military’s ability to mobilize, deploy, maneuver and sustain forces. AAR Mobility also manufactures large lightweight structural assemblies and platforms that support mission essential functions. Products are supported through a network of service centers, field service teams and strategic partners. More information can be found at www.aarmobilitysystems.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.