AAR Named Exclusive Supply Chain Partner for Exechon Enterprises to Support XMini Worldwide
September 27, 2016
Strategic sourcing & inventory management contract leverages AAR’s global aftermarket solutions
WOOD DALE, Illinois, September 27, 2016 – AAR (NYSE: AIR), an industry-leading provider of aviation services and integrated supply chain solutions, has been awarded a 10-year global exclusive supply chain agreement with Exechon Enterprises, LLC, an Abu Dhabi–based joint venture between Lockheed Martin, Tecgrant AB, and Injaz National, to supply all material for the patented Parallel Kinematic Machine known as the XMini. Under the agreement, AAR is responsible for all strategic production sourcing, procurement, kitting, and aftermarket component distribution in support of global XMini sales, for which initial orders have already been placed by aviation OEMs.
“We are truly excited about this opportunity to support Exechon as it produces a machine that fills an unmet need in manufacturing today,” said Jay Pereira, Vice President and General Manager of Government Programs. “This long-term partnership is a result of AAR’s capability and agility to deliver custom solutions outside of traditional aftermarket distribution channels anywhere in the world.”
“We chose AAR for their trade-compliance expertise and ability to develop and manage our supply chain and inventory investment relative to production volume,” said Karl Erik Neumann, CEO of Exechon Enterprises. “This partnership lets us focus on manufacturing and production of our game-changing product, without worrying about the supply chain.”
Exechon is a joint venture between Tecgrant AB, a Swedish company; Injaz National General Transport an Abu Dhabi based company; and Lockheed Martin, mainly specializing in manufacturing of robotic machines. The Abu Dhabi-based joint venture, Exechon Enterprises, L.L.C., is an engineering and manufacturing center of excellence for Parallel Kinematics Machining (PKM) in the aerospace, defense and automotive sectors, as well as other industrial sectors, and will export locally manufactured machines. More information can be found at www.exechon.com.
AAR is a global aerospace and defense aftermarket solutions company that employs more than 6,000 people 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. 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, 2016 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.