BAE Systems Selects AAR for Military Shelters
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR (NYSE: AIR) announced today that it has received a contract from BAE Systems to manufacture mobile shelters for the U.S. Army's Family of Medium Tactical Vehicles (FMTV) program. BAE Systems is exercising the one-year option on a contract issued to AAR in October 2008 with a $40 million order for additional shelters. Delivery of the shelters is scheduled to start in April 2010 and be completed by November 2010.
"We are very pleased that BAE Systems has extended and expanded this program and that our mobility products will continue to be an integral part of the U.S. Army's ground operations," said Timothy J. Romenesko, President and Chief Operating Officer of AAR CORP. "AAR is dedicated to supporting the warfighter in a wide variety of functions and operations. Our shelters help our soldiers achieve more by increasing efficiency, mobility and readiness."
The shelters will be built by AAR's Mobility Systems division, which designs, builds, integrates and supports rapid deployment equipment, expeditionary systems and command and control systems for defense customers and prime contractors.
BAE Systems' Global Tactical Systems business produces the FMTV at its facility in Sealy, Texas. The FMTV is the medium tactical vehicle platform of choice for the U.S. Army in the 2.5- and 5-ton cargo vehicle class. More than 56,000 FMTVs have been produced in 21 variants during the vehicle's 17-year production run.
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 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, 2009 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 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.
CONTACT: Chris Mason, Director, Corporate Communications of AAR, +1-630-227-2062, email@example.com
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