SINGAPORE, Feb. 19 /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR)
announced today at the Singapore Airshow that it has received an order to
provide containerized roll-in/out platforms (CROP) for the U.S. Army, valued
at $28 million.
The specialized equipment, which is used primarily to transport
ammunition, will be manufactured by AAR SUMMA Technology in Cullman, Alabama
through June 2009. The order was placed as part of a five-year Indefinite
Delivery/Indefinite Quantity (IDIQ) contract that was established in 2005.
"We are proud to contribute to the readiness and mobility of our defense
customers with products that support the movement of troops and supplies into
theaters of operation and sustain in-theater activity," said Timothy J.
Romenesko, President and Chief Operating Officer of AAR CORP. "The recent
addition of AAR SUMMA Technology has expanded our mobility product line,
broadened our manufacturing capabilities and improved our ability to serve
both commercial and defense customers."
On December 3, 2007, AAR acquired SUMMA Technology, Inc., a leading
provider of high-end sub-systems and precision machining, fabrication, welding
and engineering services. The acquisition strengthens AAR's competitive
position in the market for aerospace and defense products and services by
extending AAR's manufacturing capabilities and increasing its product
offerings. AAR SUMMA Technology currently provides complex machined parts and
assemblies for the F-35, F-22, F-16, F-18, C-130, Gulfstream Aircraft,
Expeditionary Fighting Vehicle (EFV) and various missile and space programs.
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, 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.
SOURCE AAR CORP.
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