WOOD
DALE, Ill., April 11,
2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a
leading provider of aviation services to commercial and government
operators, MROs, and OEMs, has signed an extension and
expansion of its V2500 engine component distribution agreement with
Sumitomo Precision Products Co., Ltd. (SPP).
Under the agreement, AAR has extended its exclusive agreement to
distribute the V2500 pneumatic starter and starter control
valve on behalf of SPP for the life of the program. The
contract also expands AAR's exclusive distributorship with the
addition of all V2500 starter/valve subcomponents.
"AAR is proud to expand and extend our support of Sumitomo
Precision Products on this critical engine component," said
Paige Immordino, AAR's Vice
President of Distribution – Commercial. "We continuously explore
opportunities to simplify the supply chain for our customers. By
expanding this agreement to include global piece part support, we
can serve as a designated source for their V2500 pneumatic starter
and starter control valve needs."
"This relationship enables us to better serve V2500 operators
and repair facilities through compressed lead times, 24/7 AOG
support, and global stocking locations," said Kenro Itakura, Executive Vice President, GM of
Aerospace Division. "AAR has been a valued partner to Sumitomo
Precision Products since 2017, and we are pleased to extend our
distribution relationship through this agreement."
For more information on AAR's distribution capabilities, visit
https://www.aarcorp.com/en/products/distribution/.
About AAR
AAR is a global aerospace and defense
aftermarket solutions company with operations in over 20 countries.
Headquartered in the Chicago area,
AAR supports commercial and government customers through four
operating segments: Parts Supply, Repair & Engineering,
Integrated Solutions, and Expeditionary Services. Additional
information can be found at aarcorp.com.
About Sumitomo Precision Products
Sumitomo Precision
Products Co., Ltd., (Hyogo Japan) is a 100% subsidiary of Sumitomo
Corporation that specializes in the design and manufacture of
aerospace equipment, heat exchangers, hydraulic controls, MEMS
sensors, micro-electronics technology, and environmental
systems. The company has been engaged in the design and manufacture
of aerospace equipment for more than half a century and is an
experienced supplier of traditional propellers, landing gears,
pneumatic equipment and heat exchangers over the world.
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, reflecting management's expectations about future
conditions, including anticipated activities and benefits under the
extended and expanded distribution agreement. Forward-looking
statements may also be identified because they contain words such
as ''anticipate,'' ''believe,'' ''continue,'' ''could,''
''estimate,'' ''expect,'' ''intend,'' ''likely,'' ''may,''
''might,'' ''plan,'' ''potential,'' ''predict,'' ''project,''
''seek,'' ''should,'' ''target,'' ''will,'' ''would,'' or similar
expressions and the negatives of those terms. 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. For a discussion of these
and other risks and uncertainties, refer to "Risk Factors" in our
most recent Annual Report on Form 10-K and subsequent Quarterly
Reports on Form 10-Q. 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.
|
Contact:
Media Team
Corporate Marketing and Communications
+1-630-227-5100
Editor@aarcorp.com
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SOURCE AAR CORP.