WOOD DALE, Ill., June 20, 2019 /PRNewswire/ -- AAR (NYSE: AIR), a
leading provider of aviation services to commercial airlines and
governments worldwide, announced a new contract with Tawazun
Economic Council, a defense and security industry enabler in the
United Arab Emirates, and Global
Aerospace Logistics (GAL), an Abu
Dhabi-based professional aerospace and defense services
company, to provide component repair management and consulting
services for UAE military fleets.
Signed on June 18 at Paris Air
Show, AAR will begin the two-year repair management contract
providing complete repair loop services and supply management for
GAL clients in the United Arab
Emirates. AAR support will include UH-60 Black Hawk, CH-47
Chinook, Twin Otter and C-208 Caravan platforms.
"We are embarking on the next phase in development and growth
for GAL and endeavor to strengthen our industry relationships. GAL
is pleased to announce this strategic partnership with AAR to
enhance service delivery to our customers in the UAE and support
our regional growth initiatives," said Khalid Al Breiki, GAL Chief Executive Officer.
"We are excited to leverage AAR's global supply chain and logistics
support expertise, which will make us more agile as we scale our
own capability. We see this as the beginning of a larger strategic
partnership with AAR."
"We are committed to enabling the sector by building industrial
and human capabilities, creating new opportunities and allowing the
transfer of know-how," says Matar Al
Romaithi, Tawazun Economic Council Chief Economic
Development Officer. "This endeavor is a result of the new policy
that will allow us to further support our goals in promoting
long-term partnerships to enhance the aerospace and defense
capabilities of the UAE as well within the region."
AAR will perform the services for GAL in Abu Dhabi, as well as at AAR headquarters in
Wood Dale, Illinois.
AAR has the experience and expertise needed to provide
meaningful knowledge transfer and capability development to GAL,"
said John Holmes, AAR President and
Chief Executive Officer. "We look forward to expanding our
partnership with GAL as they seek to become a premier maintenance
and integrated logistics support provider in the region."
For more information on AAR Component Repair, please click here,
and for more information about GAL, please visit www.gal.ae.
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 Tawazun Economic Council
Tawazun Economic Council (Tawazun) is a key enabler of the
UAE Defence and Security industry, with a focus on economic
development.. Founded in 1992, to date Tawazun has enabled the
creation of more than 90 companies and investment vehicles within
eleven sectors.
Tawazun contributes to the development of a sustainable Defence
and Security industry by driving economic value, technology
& innovation, ecosystem growth, and capabilities
development. Tawazun works with industry players through its
two main drivers, Tawazun Economic Program and the Defense and
Security Development Fund. Additionally, Tawazun seeks to create
job opportunities for Emirati citizens and to develop human
potential.
About GAL
Global Aerospace Logistics LLC (GAL) is an Abu Dhabi based professional aerospace and
defense services company. GAL delivers aviation maintenance,
repair, overhaul, supply chain and specialized support services in
the UAE and the region. GAL endeavors to develop strategic
relationships with OEM's and aviation industry partners to deliver
comprehensive maintenance, logistics and engineering solutions to
its local and regional customers.
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