AEROSPACE COMPANY & ITS CEO PLEDGE THREE-YEAR COMMITMENT TO SUPPORT SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS AT OVERTOWN YOUTH CENTER (OYC)
June 25, 2014
AAR CORP.’s CEO David P. Storch and Overtown Youth Center Founder Alonzo Mourning announced partnership at event featuring student rocket launch
MIAMI, Fla. – June 25, 2014 –The Overtown Youth Center hosted a special ceremony today to recognize AAR CORP. and its Chairman and CEO David P. Storch’s $350,000 donation to support the Center’s science, technology, engineering and mathematics (STEM) program. County Commissioner Audrey Edmonson and City Commissioner Keon Hardemon, AAR’s Storch, and Mourning Family Foundation and Overtown Youth Center founder Alonzo Mourning attended the event to show their support for programs that help raise interest and train inner-city youth for the well-paying careers of today and tomorrow.
The Overtown Youth Center’s (OYC) STEM Summer Program, in partnership with aviation company AAR and Miami Dade County Public School Office of Academic & STEM Transformation, will provide students an opportunity to engage in academically exciting, hands-on projects. This summer OYC will administer an intensive, six-week program that will expose students to the STEM curriculum, while incorporating literacy ensuring academic reinforcement. Through this unique partnership, 11- to-18-year-old students in the Overtown community will be provided with instructional guidance by leading Miami Dade County Public School STEM staff members. The program kicked off today with AAR employees helping students to launch rockets.
“Our mission is to inspire and empower youth and families by fostering hope through enrichment services. None of that happens without the support of people like AAR CEO David Storch,” said Alonzo Mourning. “The three-year commitment and support of STEM programs provided by David and his aerospace company will motivate and inspire children. Today we will teach and feed kids here at the OYC, our goal is to ensure they’re contributing members of society 10 years from now,” Mourning added.
AAR is a leading provider of products and services to the global aerospace and government/defense industries. The company is connected to Miami by its two facilities in the county – Landing Gear Services and Aircraft Services – that employ more than 1,000 residents and directly generate more than $114 million annually in economic impact for the area. The company’s focus on STEM education for youth and community improvement has included giving Miami Central High School juniors and seniors their first glimpse of aviation education and careers during “Taking Flight,” a day-long STEM excursion to AAR’s 226,000-square-foot aircraft maintenance, repair and overhaul (MRO) facility at Miami International Airport. The donation also funded a recent College Tour for Overtown students and classes for elementary school students taught by the “Nutty Scientist.”
“AAR believes in investing in the communities we work in, and I am really impressed by what is being accomplished by Alonzo and Tina at Overtown,” said Storch. “This type of investment is mutually beneficial as it helps AAR to create a pipeline of aviation talent to make sure we have the workforce we need in the future.”
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, 2013. 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.