Sumitomo Precision Products Names AAR Exclusive Global Distributor for the IAE V2500 Pneumatic Starter LRU
May 1, 2018
Agreement will provide airlines and MROs with enhanced aftermarket support
WOOD DALE, Illinois, May 1, 2018 – AAR (NYSE:AIR), a leading integrator of aviation supply chain solutions, announced today a strategic partnership with Sumitomo Precision Products (SPP) Co., Ltd., to provide global support to airlines and MRO customers for the IAE V2500 Pneumatic Starterand Starter Air Valve.
AAR’s OEM Aftermarket Solutions group will utilize its global customer support team and warehousing network to provide exceptional customer support for the starter, starter air valve,and related sub-assembly components.
“With the help of AAR’s globally allocated customer support network, SPP is truly excited and strongly committed to provide better component service to V2500 engine operators and MRO customers,” said the SPP Product Support team.
“We are excited to partner with SPP on this critical engine component. The V2500 starter complements our current product offerings and allows us to leverage the current relationships and experience of our global customer sales and support teams,” said Erik Barfuss, Product Line Manager, OEM Aftermarket Solutions, AAR.
About Sumitomo Precision Products
For more than half a century, SPP has been engaged in the design and manufacture of aerospace equipment as an experienced supplier of traditional propellers, landing gears, and heat exchangers. With a reputation for excellence and a broad range of experience, SPP has firmly established itself as a global leading supplier in the world-wide commercial aerospace market with the ability to develop and manufacture superior equipment that contribute directly to aviation safety.
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.
Media contact: Daniela Pietsch, Vice President Corporate Marketing & Communications, at email@example.com or +1 630-227-5100.
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, including, but not limited to,statements regarding the agreement to establish The Module Factory,AAR’s estimate that it will manage the teardown, repair, marketing and sales of spare parts of FTAI’s CFM56 engine pool totaling over 200 engines and growing, AAR’s ability to leverage its extensive USM capabilities to offer CFM56 serviceable engine material to the global commercial aviation aftermarket, that the partnership positions AAR well to service the growing demand for USM on a leading engine platform as customers increasingly prioritize more cost-efficient solutions, and the belief that serviceable engine products, combined with FTAI’s proprietary products and partnerships, completes its unique suite of CFM56 aftermarket offerings aimed at delivering the lowest cost per cycle solution to airline customers. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. 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 Form 10-K for the fiscal year ended May 31, 2017. 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.