AAR to Acquire Summa Technology, Inc.


WOOD DALE, Ill., Nov. 9 -- AAR CORP. (NYSE:AIR) announced today that it has signed a definitive merger agreement to acquire Summa Technology, Inc., ("Summa"), a leading provider of high-end sub-systems and precision machining, fabrication, welding, engineering and test services to both commercial and government customers. Summa will operate as part of AAR's Structures and Systems segment.

The consummation of the merger agreement remains subject to Summa stockholders' approval, the expiration of the Hart-Scott-Rodino anti-trust waiting period and other customary conditions. The Company expects the merger will be completed before the end of November.

Founded in 1987, Summa is headquartered in Huntsville, Alabama with additional facilities in Cullman, Alabama and Lebanon, Kentucky, totaling over 420,000 square feet of manufacturing space. Stifel Nicolaus served as financial advisor to Summa in connection with the merger agreement.

AAR is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair & Overhaul; Structures & Systems and Aircraft Sales & Leasing. Learn more at www.aarcorp.com.

Source: AAR CORP.

CONTACT: Richard J. Poulton, Vice President, Chief Financial Officer of AAR CORP., +1-630-227-2075, rpoulton@aarcorp.com

Web site: www.aarcorp.com/

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