Subject: LIC
AAR signs new multi-year military distribution agreement with Ontic
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.
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. |
Contact:
Media Team
Corporate Marketing and Communications
+1-630-227-5100
[email protected]
SOURCE AAR CORP.
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