AAR Receives $24 Million in Contracts for Specialized Mobility Shelters
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) announced today that it has been awarded $24 million in contracts for mobility shelters to support various defense customers including the U.S. Army, U.S. Marine Corps and the Michigan National Guard. AAR Mobility Systems will manufacture the shelters at its production facility in Cadillac, Mich., and AAR's manufacturing centers in Goldsboro, N.C., and Sacramento, Calif. Deliveries are scheduled over the next 12-18 months.
"AAR is proud to support our defense customers with products that meet a wide range of mobility requirements in a variety of dynamic tactical environments," said Terry Stinson, Group Vice President of AAR's Structures & Systems segment. "These specialized shelters can be customized to provide mobile, self-contained facilities that contribute to the responsiveness, rapid deployment and sustainability of our armed forces."
AAR's mobility shelters can be outfitted to serve various purposes. The U.S. Marine Corps will utilize the Company's standard 20' ISO shelter as small arms repair and maintenance facilities. The U.S. Army has contracted SFA, Inc. to outfit the shelters as field kitchens and Kipper Tool Company to provide Standard Automotive Tool Sets. The Michigan National Guard has ordered Expandable Light Air Mobile Shelters (ELAMS), which will be deployed as portable command and control centers.
AAR Mobility Systems is a leading global supplier of rapid deployment equipment and mobile tactical shelters designed to transport troops and equipment into theaters of operation and sustain in-theater activity. AAR provides ongoing product support through a network of service centers, field service teams and strategic partners.
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 and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at http://www.aarcorp.com.
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. 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 May 31, 2007 Form 10-K. 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 publicly release the result of any revisions that may be made to 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.
Chris Mason, Director of Corporate Communications for AAR CORP.
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