WOOD DALE, Ill., Feb. 26 /PRNewswire-FirstCall/ -- AAR (NYSE: AIR) today
announced that it has signed an agreement to acquire Avborne Heavy
Maintenance, Inc. (Avborne) and a related entity from AHM Holding, Corp.
Avborne is an independent provider of aircraft heavy maintenance checks,
modifications, installations and painting services to commercial airlines,
international cargo carriers and major aircraft leasing companies. Founded in
1985, Avborne performs heavy maintenance on both Airbus and Boeing aircraft at
its 226,000 square-foot hangar, located at Miami International Airport. The
Avborne facility is capable of accommodating up to three wide-body aircraft or
nine narrow-body aircraft, simultaneously.
The Company expects the acquisition will be completed during the fourth
quarter of its fiscal year 2008, subject to customary closing conditions. The
newly acquired business will operate as part of AAR's Maintenance, Repair and
Overhaul (MRO) segment.
AAR currently operates MRO facilities in Indianapolis, Indiana, Oklahoma
City, Oklahoma and Hot Springs, Arkansas and was ranked among the top 10 MROs
in the world according to a 2007 study conducted by Aviation Week's Overhaul
and Maintenance magazine.
AAR is a leading provider of products and value-added services to the
worldwide aviation and defense industry. With facilities and sales locations
around the world, AAR uses its close-to-the-customer business model to serve
airline 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, 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
bourse
