WOOD
DALE, Ill., July 24,
2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading
provider of aviation services to commercial and government
operators, MROs, and OEMs, has signed multiple long-term
distribution agreements with Ontic that expand the companies'
existing defense and commercial partnerships and enhance service
offerings for the U.S. government and worldwide commercial
customers.
Under the first defense agreement, AAR will expand its support
for U.S. government customers to include a specific list of T55
engine components applicable to the CH-47 helicopter. Under a
second agreement, AAR will add part numbers for various platforms,
including the C-130, H-60, and E-2D, to increase its Ontic
offerings for direct sales to the U.S. government by more than 33%.
Under a third agreement, AAR will expand on a current contract with
Ontic to begin distributing a thrust vector actuation systems motor
manufactured by Ontic.
Additionally, AAR and Ontic signed a long-term global
exclusive commercial agreement for a specified list of parts for
multi-channel satellite communication systems utilized on various
platforms.
Collectively, these agreements add to AAR's robust offerings
while leveraging Ontic's growing global presence to reduce lead
times and increase availability of parts for customers.
Brian Sartain, Chief Operating Officer at
Ontic said: "This the continuation of a strategic
relationship for our two companies and offers our customers
greater availability by adding these new parts to our distribution
partnership with AAR. These additions to
our agreement mean our customers will benefit
from reduced lead times for parts, smoother supply
chain management, and more efficient operational
planning."
"AAR is pleased to expand our longstanding partnership with
Ontic through additional multi-year distribution agreements," said
Frank Landrio, AAR's Senior Vice
President of Distribution. "This strategic partnership aligns AAR's
global sales expertise, strategic footprint, and contracting
strengths with Ontic's engineering experience to benefit our shared
defense and commercial customers."
For more information on AAR's Distribution division, visit
aarcorp.com.
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 8,000+ 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 50 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 anticipated activities and benefits under the new and
expanded distribution and commercial agreements. 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
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SOURCE AAR CORP.