WOOD
DALE, Ill., June 13,
2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading
provider of aviation services to commercial and government
operators, MROs, and OEMs, has signed a territory expansion
agreement that expands its Americas-based electronics distribution
relationship with OTTO Engineering, Inc. (OTTO) into the APAC
region.
"AAR is pleased to grow our relationship
with OTTO and expand our electromechanical product offering into
APAC."
Under the agreement, AAR will distribute OTTO's extensive line
of electromechanical switches, grips, and joysticks to the
commercial and defense markets. The agreement leverages AAR's
international presence and market expertise to deliver a broader
range of products.
"OTTO is excited to embark on this channel expansion with our
existing partner," said Angelo
Assimakopoulos, Director of Sales at OTTO. "AAR's ability to
service the global market with our extensive aerospace control
products offering is the right alignment to proliferate and grow
our business in the APAC region."
"AAR is pleased to grow our relationship with OTTO and expand
our electromechanical product offering into APAC," said
Darren Spiegel, Vice President and
General Manager of AAR Electronics. "Pairing AAR's customer-centric
aerospace focus with OTTO's design expertise will drive further
innovation as the industry places a growing emphasis on
electrification."
For more information on AAR's Electronics business, part of the
Company's Parts Supply segment,
visit https://www.aarcorp.com/en/products/distribution/electronics/.
About AAR
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 four
operating segments: Parts Supply, Repair & Engineering,
Integrated Solutions, and Expeditionary Services. Additional
information can be found at aarcorp.com.
About OTTO
OTTO is a vertically integrated U.S.
manufacturer located in Carpentersville,
Illinois since 1961. OTTO produces controls and
communication products for global markets in the Off-Road
machinery, Material Handling, Industrial, Military and Defense
markets. Additional information can be found
at ottoexcellence.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, reflecting management's expectations about future
conditions, including anticipated activities and benefits under the
expanded distribution relationship. 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. For a discussion of these and other risks and
uncertainties, refer to "Risk Factors" in our most recent Annual
Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
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.
|
Contact:
Media Team
+1-630-227-5100
Editor@aarcorp.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/aar-expands-electronics-distribution-relationship-with-otto-engineering-inc-302171342.html
SOURCE AAR CORP.