AAR Receives $40 Million Order for Container Roll-in/Out Platforms
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) announced today that it has received an order to provide Containerized Roll-in/Out Platforms (CROP) for the U.S. Army, valued at $40 million. The platforms will be manufactured by AAR's SUMMA Technology facility in Cullman, Alabama through 2010. This new order, as well as a $26 million order announced in July 2008, is part of a five-year Indefinite Delivery/Indefinite Quantity (IDIQ) contract that was established in 2005.
The CROP is a rolling flatrack platform that fits inside standard-sized 20-foot containers used by the Army to transport and deliver supplies and equipment across its multi-modal distribution system.
"We are proud to continue to provide this equipment, which serves as an integral part of the Army's pipeline for delivering mission-critical supplies and munitions," said Timothy J. Romenesko, President and Chief Operating Officer of AAR CORP. "AAR SUMMA Technology contributes meaningfully to the diversity of AAR's products, services and capabilities and strengthens our ability to support defense customers' demanding logistics requirements."
Headquartered in Huntsville, Alabama, AAR SUMMA Technology operates additional facilities in Cullman, Alabama and Lebanon, Kentucky, totaling over 420,000 square feet of manufacturing space.
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, 2008 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 of AAR CORP.
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