AAR Mobility Systems awarded a $125 million sole source firm-fixed-price (FFP) contract from the US Air Force to produce and ...
April 27 2020 - 5:08PM
AAR’s (NYSE: AIR) Mobility Systems division, a leading global
supplier of rapid deployment equipment, has been awarded a sole
source firm-fixed-price (FFP) requirements contract that includes a
base year with four one year option periods from the U.S. Air Force
for the production and repair of 463L cargo pallets. The total
contract value is $125 million. The cargo pallets will be
manufactured and repaired in Cadillac, Michigan.
“AAR continues to produce and maintain this strategic asset for
the U.S. Air Force to ensure it meets its worldwide operational
requirements,” said Lee Krantz, Senior Vice President, AAR Mobility
Systems. “For many years, AAR has been proud to provide the 463L
cargo pallet to the U.S. Armed Forces, its allies, and other U.S.
Government agencies.”
AAR has been proud to provide the 463L systems cargo pallets to
the U.S. Armed Forces and continues to be the world leader in
design and production. The 463L USAF design uses a lightweight
balsa wood core that continues to provide unparalleled
strength-to-weight performance and reliability compared to
alternative commercial pallet designs. The pallets are designed to
be loaded and off-loaded on a variety of military and commercial
aircraft.
For more information about AAR’s Mobility Systems, click
here.
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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; and Maintenance, Repair and Overhaul (MRO) Services.
AAR’s Expeditionary Services include Mobility Systems and Composite
Manufacturing operations. Additional information can be found at
www.aarcorp.com.
About AAR Mobility Systems
AAR Mobility Systems is a division of AAR and a leading global
supplier of rapid deployment equipment, including mobile tactical
shelters, pallets and expeditionary containers that enhance the
military’s ability to mobilize, deploy, maneuver and sustain
forces. AAR Mobility also manufactures large lightweight structural
assemblies and platforms that support mission essential functions.
Products are supported through a network of service centers, field
service teams and strategic partners. More information can be found
at www.aarmobilitysystems.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,
including the total contract value. 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, 2019 and the
Company’s Form 10-Q for the fiscal quarter ended February 29, 2020.
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. |
Daniela Pietsch
AAR Corp
6302275100
editor@aarcorp.com
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