WOOD DALE, Ill., April 10, 2019 /PRNewswire/ -- AAR
(NYSE: AIR) just announced that it will be extending its PW2000
engine support contract with MTU Maintenance for another five
years. AAR will be supplying PW2000 parts to support MTU, which is
one of the largest engine overhaul providers in the world. MTU has
recently said they have won contracts valued at more than
$700 million and remains committed to
its PW2000 engine MRO program for at least another 10 years. AAR is
an important source of used serviceable materials (USM) in support
of these engine overhauls.
AAR and MTU Maintenance have worked together since the
mid-1990's, collaborating on various engine platforms such as the
CF6. Under the PW2000 agreement originally signed in 2009, AAR will
continue to supply PW2000 parts via AAR's facility in Hannover, Germany, which significantly
streamlines the logistical processes and supports turnaround time.
Partnering with AAR ensures that MTU Maintenance will have a
reliable supply of USM for PW2000 shop visits.
"We are excited to extend our PW2000 agreement with one of the
world's top commercial aircraft engine maintenance providers," said
Sal Marino, AAR SVP of Parts Supply.
"AAR greatly values this multi-decade relationship and is proud to
continue offering MTU solutions using the industry's largest supply
of USM quality parts."
For more information on AAR's global parts supply services,
click here.
About AAR
AAR is a global aerospace and defense
aftermarket solutions company that employs more than 6,000 people
in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and
government customers through two operating segments: Aviation
Services and Expeditionary Services. AAR's Aviation Services
include parts supply; OEM solutions; integrated solutions;
maintenance, repair, overhaul; and engineering. AAR's Expeditionary
Services include mobility systems and composite manufacturing
operations. Additional information can be found
at www.aarcorp.com.
About MTU Maintenance
MTU Maintenance specializes in
creating customized solutions for aero engines. The company
operates a global network with facilities in the Americas,
Asia and Europe. Around 5,000 employees from over 60
nationalities provide customers with a wide range of service
solutions encompasses all aspects of engine MRO, asset
management and leasing. With close to 30 engines in its portfolio,
MTU Maintenance has performed more than 18,000 shop visits in
nearly 40 years. Additional information can be found
www.mtu.de.
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 Form 10-K for the fiscal year ended May 31, 2018. 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. For additional information, see the comments included in
AAR's filings with the Securities and Exchange
Commission.
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/aar-pw2000-contract-with-mtu-maintenance-extended-for-another-five-years-300829549.html
SOURCE AAR