AAR Acquires Reebaire Aircraft, Inc.
WOOD DALE, Ill., Jan. 16-- AAR (NYSE:AIR) today announced that it has acquired substantially all of the assets of Reebaire Aircraft, Inc. (Reebaire), a regional aircraft MRO located in Hot Springs, Arkansas. The newly acquired business will operate under the name AAR Aircraft Services - Hot Springs.
The acquisition is part of the Company's strategy to expand its MRO business and its support of regional aircraft operators. Year-over-year, AAR's sales to regional airline customers have increased 48 percent.
"The Reebaire acquisition doubles the size of our regional MRO capacity and strengthens the Company's position in this fast-growing market," said David P. Storch, Chairman, President and Chief Executive Officer of AAR CORP. "This business will report into our Oklahoma City operation, which has a proven track record for producing excellent results. Additionally, we expect strong synergies with our supply chain business."
Maintenance and support requirements for regional aircraft are expected to increase as the worldwide fleet continues to grow and mature. AAR is well positioned to meet these requirements with a broad range of cost-effective services that include logistics; component repair; overhaul of landing gear, wheels and brakes; nose-to-tail aircraft maintenance and engineering modifications.
AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at www.aarcorp.com/ .
CONTACT:
Chris Mason,
Director of Corporate Communications, of AAR,
+1-630-227-2062,
or chris.mason@aarcorp.com
Web site: www.aarcorp.com/
