AAR Signs Agreement with LORD Electromechanical Solutions for Airbus Flight Control Equipment Repairs
July 11, 2018
Expanded relationship to be Flight Control Equipment repair management channel
in the Americas market
WOOD DALE, Illinois, July 11, 2018 — AAR (NYSE: AIR) announced today its OEM Aftermarket Solutions group has signed an agreement with LORD Corporation to be its channel to the Americas market for LORD Flight Control Equipment repairs.
The LORD products covered by this agreement are cockpit controls for systems on Airbus commercial fixed-wing aircraft. LORD acquired LORD Electromechanical Solutions (formerly Fly-by-Wire Systems France) from SKF in June 2016 and established a U.S.-based repair station for the products in August 2017. AAR will manage customer repairs going into LORD’s Cambridge Springs, Pa., facility.
“We are excited to expand our existing LORD relationship with the addition of these repair service offerings,” said Darren Spiegel, Vice President, AAR OEM Aftermarket Solutions. “We are proud to bring OEM assurance to operators looking for repair solutions on this flight-critical line of components.”
AAR currently distributes a line of LORD Engine Mounts, APU Mounts, and Equipment Isolators for commercial fixed-wing and military fixed- and rotor-wing aircraft.
”LORD is committed to supplying its customers with quality products and repairs in a timely manner,” said Rachid Bendali, Vice President, Global Aerospace & Defense, LORD Corporation. “We look forward to providing optimal OEM repair service to operators of Airbus aircraft based in the Americas in cooperation with AAR.”
About LORD CORPORATION
LORD Corporation is a diversified technology and manufacturing company developing highly reliable adhesives, coatings, motion management devices, and sensing technologies that significantly reduce risk and improve product performance. For more than 90 years, LORD has worked in collaboration with our customers to provide innovative oil and gas, aerospace, defense, automotive and industrial solutions. With world headquarters in Cary, N.C., LORD has approximately 3,000 employees in 26 countries and operates 19 manufacturing facilities and 10 R&D centers worldwide. LORD actively promotes STEM education and many other community engagement initiatives. For more information, visit www.lord.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 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, 2017. 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.