AAR has signed an agreement to acquire Avborne Heavy Maintenance, Inc. (Avborne) and a related entity from AHM Holding, Corp.
Avborne is an independent provider of aircraft heavy maintenance checks, modifications, installations and painting services to commercial airlines, international cargo carriers and major aircraft leasing companies. Founded in 1985, Avborne performs heavy maintenance on both Airbus and Boeing aircraft at its 226,000 square-foot hangar, located at Miami International Airport. The Avborne facility is capable of accommodating up to three wide-body aircraft or nine narrow-body aircraft, simultaneously.
The Company expects the acquisition will be completed during the fourth quarter of its fiscal year 2008, subject to customary closing conditions. The newly acquired business will operate as part of AAR's Maintenance, Repair and Overhaul (MRO) segment.
