WOOD
DALE, Ill., Jan. 4, 2024
/PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of
aviation services to commercial and government operators, MROs, and
OEMs, has announced a new multi-year agreement with Ontic,
providing AAR distribution rights to supply a strategic selection
of military products to the U.S. government, with exclusivity on
specified parts.
AAR currently provides military distribution support to Ontic's
Cheltenham, United Kingdom,
facility and commercial distribution support to Ontic's
Creedmoor, North Carolina,
facility. Under this additional contract, AAR will support Ontic's
Chatsworth, California,
facility.
"Ontic is pleased to deepen our partnership with AAR through
this new agreement. AAR's support adds efficiencies to our
processes that allow us to best support our wide range of
customers," said Terry Streb,
General Manager of Ontic's Chatsworth facility. "AAR enables us to reduce
turnaround times and improve product availability for our shared
U.S. government customers."
"AAR is enthusiastic about bolstering our strategic military
portfolio by expanding our Ontic relationship to include the
Chatsworth facility," said
Ross Wuestenfeld, Vice President of
AAR's Distribution – Defense. "Ontic is a trusted provider of parts
and services to the aviation aftermarket, and we look forward to
enhancing these services to support the U.S. warfighter."
For more information on AAR's Distribution division, which is
part of the Company's Parts Supply segment, visit
https://www.aarcorp.com/en/products/distribution/.
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 Ontic
Ontic is a leading global aerospace OEM,
providing complex engineered parts and repair services
for established aircraft in the defense and commercial
market.
Boasting a portfolio of 7,500+ top-level assemblies, Ontic is proud
to work with our customers around the globe, with our team of
experts delivering a wide variety of critical technologies,
including fuel measurement systems, as well as a range of avionics,
cockpit instruments and controls.
With over 45 years of product manufacturing and aftermarket
support experience, Ontic has operations across North America, UK & Europe, and Asia providing strategic worldwide support to
civil and defense customers when and where it is needed.
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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 expected activities and benefits under the
new distribution agreement. 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.
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Contact:
Media Team
Corporate Marketing and Communications
+1-630-227-5100
Editor@aarcorp.com
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SOURCE AAR CORP.