October 22, 2007
Norman R. Bobins Elected to AAR CORP. Board of Directors
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) announced today that the Company's stockholders have elected Norman R. Bobins as a new director of the Company. Bobins, 64, currently serves as Chairman Emeritus of LaSalle Bank Corporation and previously served as Chairman, President and Chief Executive Officer of LaSalle Bank and as head of ABN AMRO's North American Businesses. Bobins is renowned in the Chicagoland area for his work in business, financial and philanthropic communities.
"As one of Chicago's top bankers and civic leaders, Norm makes an outstanding addition to AAR's Board of Directors," said David P. Storch, Chairman and Chief Executive Officer of AAR CORP. "We look forward to Norm's participation and contributions on our Board as we grow the business and provide value for our customers and stockholders."
AAR is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair & Overhaul; Structures & Systems and Aircraft Sales & Leasing.
CONTACT:
Chris Mason,
Director,
Corporate Communications of AAR CORP.,
+1-630-227-2062,
chris.mason@aarcorp.com
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Wood Dale, Illinois – AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today the pricing of an underwritten registered public offering of 3,000,000 shares of its common stock at a public offering price of $83.00 per share. The underwriters have a 30-day option to purchase up to an additional 450,000 shares from the Company at the public offering price. The Company estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions, will be approximately $239.0 million, or $274.9 million if the underwriters exercise their option to purchase additional shares in full. The shares are expected to be delivered on or about October 2, 2025, subject to customary closing conditions.
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Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today it has acquired American Distributors Holding Co., LLC (ADI), a leading distributor of components and assemblies, for $146 million in an all cash transaction funded using the Company’s existing revolving credit facility. The acquisition immediately expands AAR’s new parts Distribution with new additional product lines and extensive OEM relationships. The business will become part of AAR’s Parts Supply segment.
