AAR To Acquire Two MRO Facilities from Premier Aviation
September 19, 2017
Aviation Services leader to expand its award-winning MRO network into Canada
WOOD DALE, Illinois, September 19, 2017 – Global aviation services leader AAR (NYSE: AIR) announced today that it has agreed to acquire two of Premier Aviation’s aircraft maintenance, repair and overhaul (MRO) facilities – one at Trois-Rivières Airport in Québec and one at Windsor International Airport in Ontario.
“We are excited to add an experienced workforce and two world-class facilities to our award-winning MRO network, and we look forward to growing our position in, and bringing more flexibility and value to, the Canadian market,” said John Holmes, President & Chief Operating Officer, AAR. “The culture of continuous improvement and execution excellence at these facilities is consistent with AAR’s commitment to the highest levels of service.”
Premier Aviation established the MRO facility in Trois-Rivières in 2002 and expanded it to 150,000 square feet in 2011. The facility can accommodate up to seven narrow-body aircraft. Premier began operating in Windsor in 2012 in a new 143,000-square-foot hangar with full back shop capability and capacity for six narrow-body aircraft. The facilities have made significant investments in tooling over the past few years and currently employ over 300 well-trained aviation mechanics and personnel who will retain their positions based on expected workload.
“We are honored that a company with the reputation, breadth and depth of AAR has recognized the quality of our MRO facilities, and we are pleased that the customers and employees of these facilities will continue to be well-supported,” said Ronnie DiBartolo, President of Premier Aviation. “This transaction also allows Premier to focus its resources on future areas for growth at our other two MRO facilities.”
Holmes added: “This Canadian presence will be complementary to our U.S. MRO operations and workforce.”
The Canadian MROs will join AAR’s award-winning network that also includes airframe maintenance facilities in Indianapolis, Indiana; Miami, Florida; Oklahoma City, Oklahoma; Duluth, Minnesota; and Rockford, Illinois, as well as component repair facilities in New York and Amsterdam, and landing gear services in Miami. Across these sites, AAR provides industry-leading maintenance, repair and overhaul for regional, narrow-body and wide-body aircraft operators. AAR was ranked as the largest MRO services provider in the Americas and third in the world, before this acquisition.
AAR is a global aftermarket solutions company that employs more than 5,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR provides aviation services to commercial and government customers in over 100 countries through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
Media contact: Kathleen Cantillon, Vice President of Strategic Communications, at Kathleen.Cantillon@aarcorp.com| 630-227-2081 or email email@example.com.
Premier Aviation is a highly recognizedCanadian-owned aircraft Maintenance, Repair and Overhaul (MRO) and aircraft painting company serving the North American industry, with facilitiesin Québec, Québec, Canada; and Rome, New York, United States. Since its inception in 2002, the company has been delivering high-quality aviation maintenance services to a steadily growing number of airlines and aircraft lessors. More information can be found at www.premieraviation.ca.
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.