WOOD DALE, Ill., June 19, 2019 /PRNewswire/ -- AAR (NYSE:
AIR), a leading aviation services provider to commercial airlines
and governments worldwide, has been selected as the exclusive
distributor for Woodward for the promotion and sale of spare piece
parts in support of U.S. Government fleets.
As part of this agreement, AAR OEM Solutions is providing piece
part distribution for components on multiple platforms including
the T700, LM2500 and TF34 engines. Excluded from the agreement are
piece parts included in Woodward's current long-term contracts with
the U.S. Government.
"We are excited to partner with Woodward in support of the U.S.
Military," said Eric Young, AAR
Senior Vice President of OEM Solutions. "AAR will leverage its
experience and unique tools to shorten lead times and increase
parts availability."
"We believe this relationship will provide significant benefits
to both our military customers and Woodward, and we are pleased to
be partnering with AAR," said John
DiSilvestro, Woodward, Inc. Vice President of Sales,
Marketing and Commercial Operations for Aircraft Fuel Systems and
Controls.
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 Woodward, Inc.
Woodward is an independent
designer, manufacturer and service provider of control solutions
for the aerospace and industrial markets. The company's innovative
fluid, combustion, electrical, and motion control systems help
customers offer cleaner, more reliable, and more efficient
equipment. Our customers include leading original equipment
manufacturers and end users of their products. Woodward is a global
company headquartered in Fort Collins,
Colorado, USA. Visit our website at www.woodward.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. 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.
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SOURCE AAR