Aviation Services Leader to Expand Its Award-Winning MRO
Network Into Canada
WOOD DALE, Ill., Sept. 19, 2017 /CNW/ -- Global aviation
services leader AAR (NYSE: AIR) announced today that it has agreed
to acquire two of Premier Aviation's aircraft maintenance, repair
and overhaul (MRO) facilities – one at Trois-Rivières Airport in
Québec and one at Windsor
International Airport in Ontario.
"We are excited to add an experienced workforce and two
world-class facilities to our award-winning MRO network, and we
look forward to growing our position in, and bringing more
flexibility and value to, the Canadian market," said John Holmes, President & Chief Operating
Officer, AAR. "The culture of continuous improvement and execution
excellence at these facilities is consistent with AAR's commitment
to the highest levels of service."
Premier Aviation established the MRO facility in Trois-Rivières
in 2002 and expanded it to 150,000 square feet in 2011. The
facility can accommodate up to seven narrow-body aircraft. Premier
began operating in Windsor in 2012
in a new 143,000 square-foot hangar with full back shop capability
and capacity for six narrow-body aircraft. The facilities have made
significant investments in tooling over the past few years and
currently employ over 300 well-trained aviation mechanics and
personnel who will retain their positions based on expected
workload.
"We are honored that a company with the reputation, breadth and
depth of AAR has recognized the quality of our MRO facilities, and
we are pleased that the customers and employees of these facilities
will continue to be well-supported," said Ronnie DiBartolo, President of Premier Aviation.
"This transaction also allows Premier to focus its resources on
future areas for growth at our other two
MRO facilities."
Holmes added, "This Canadian presence will be complementary to
our U.S. MRO operations and workforce."
The Canadian MROs will join AAR's award-winning network that
also includes airframe maintenance facilities in Indianapolis, Indiana; Miami, Florida; Oklahoma City, Oklahoma; Duluth, Minnesota; and Rockford, Illinois, as well as component
repair facilities in New York and
Amsterdam; and landing gear
services in Miami. Across these sites, AAR provides industry
leading maintenance, repair and overhaul for regional, narrow-body
and wide-body aircraft operators. AAR was ranked as the largest MRO
services provider in the Americas and third in the world, before
this acquisition.
About AAR
AAR is a global aftermarket solutions company that employs more
than 5,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR provides aviation
services to commercial and government customers in over 100
countries through two operating segments: Aviation Services and
Expeditionary Services. AAR's Aviation Services include inventory
management; parts supply; OEM parts distribution; aircraft
maintenance, repair and overhaul; and component repair. AAR's
Expeditionary Services include airlift operations; mobility
systems; and command and control centers in support of military and
humanitarian missions. More information can be found at
www.aarcorp.com.
About Premier
Premier Aviation is a highly recognized Canadian-owned aircraft
Maintenance, Repair and Overhaul (MRO) and aircraft painting
company serving the North American industry, with facilities in
Québec, Québec, Canada; and
Rome, New York, United States. Since its inception in 2002,
the company has been delivering high-quality aviation maintenance
services to a steadily growing number of airlines and aircraft
lessors. More information can be found at
www.premieraviation.ca.
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, 2017. 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