AAR Awarded Contract for U.S. Army Flat Racks
WOOD DALE, Ill., /PRNewswire via COMTEX/ --AAR (NYSE: AIR) announced today that it is manufacturing flat racks for the U.S. Army as part of a contract valued at $23 million. Flat racks are rigid-flat bed platforms that enable materials and containers to be transported via trucks and other specialized heavy ground equipment.
"We take great pride in providing a wide variety of products and services to meet the need for logistics support across the Army's distribution system," said Timothy J. Romenesko, President and Chief Operating Officer of AAR CORP. "These and other AAR products help to ensure a efficient and uninterrupted flow of supplies and materials in support of Army operations."
The flat racks are being manufactured at AAR's Mobility Systems facility in Cullman, Alabama, which remains fully operational following tornadoes that tore through the region on April 27. Production of the flat racks is expected to be completed by the end of May 2011. To date, AAR has built over 3,000 MK 1077 flat racks for the United States and its allies.
AAR is a leading provider of value-added products and services to the worldwide aerospace and government/defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and government/defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems; and Government and Defense Services. More information can be found at www.aarcorp.com.
Named one of The Most Trustworthy Companies by Forbes magazine.
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, 2010 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.
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