AAR selected to distribute Crane products globally
July 12, 2016
FARNBOROUGH – July 11, 2016 – Crane Aerospace & Electronics has appointed AAR, a world leader in aftermarket inventory support, as their parts distributor and repair provider for Crane Foreign Military Sales, exclusive of Japan and Israel. The distribution and sales agreement covers engine and fuel, brake control, and secondary power systems that support military aircraft platforms including F-15, F-16, F/A-18, C-130 and KC-10. AAR was also selected by Crane to provide commercial retrofit and spare part sales for a key fuel system component on the MD-11/DC-10 fleet.
“AAR offers a broad selection of products for these platforms,” said Brendan Curran, President of Crane Aerospace & Electronics. “With AAR’s global network of sales and service locations, and close relationships with Foreign Military entities, we are confident that AAR will provide outstanding service and support.” AAR serves customers in more than 100 countries through locations in Asia, Europe, Africa, the Middle East and the Americas.
“With our global network, customers get the right part at the right time,” added John Holmes, Chief Operating Officer, AAR Aviation Services. “Commercial and defense sales partnerships with OEMs like Crane leverage our global network and enhance the value that operators receive as part of our aftermarket supply chain solutions.”
About Crane Aerospace & Electronics
Crane Aerospace & Electronics delivers proven systems, reliable components and flexible power solutions that excel in tough environments, from engines and landing gear to satellites, missiles and electronic countermeasure devices. Products and services are organized into six integrated solutions for aerospace and defense applications, including Sensing Components & Systems, Fluid Management, Power Components & Subsystems, Landing Gear Systems, Cabin Systems, and Microwave Components & Integrated Systems. For more information, visit www.craneae.com.
About Crane Co.
Crane Co. (NYSE: CR) is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane employs more than 11,000 people at over 150 locations in 26 countries. For more information, visit www.craneco.com.
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, 2015. 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.