AAR reported fiscal 2008 third quarter net sales of $376.6 million and income from continuing operations of $20.3 million. Sales grew a robust 39% from $271.0 million in the same period last year, and income from continuing operations increased 31% from $15.5 million in the third quarter of the prior year. Organic sales growth was …
AAR has been awarded a five-year contract by the U.S. Army for the repair and overhaul of a key control component on the CH-47 (Chinook) helicopter, valued at $25 million. The work will be performed by AAR Aircraft Component Services — New York and is scheduled to begin in March 2008.
AAR has completed the acquisition of Avborne Heavy Maintenance, an independent provider of aircraft heavy maintenance checks, modifications and painting services located in Miami, Florida. The newly acquired business will operate as part of the Company’s Maintenance, Repair and Overhaul (MRO) segment as AAR Aircraft Services — Miami. The acquisition significantly increases the Company’s MRO …
AAR completes acquisition of Avborne Heavy Maintenance Read More »
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 …
AAR CORP. has received an order to provide containerized roll-in/out platforms (CROP) for the U.S. Army, valued at $28 million. The specialized equipment, which is used primarily to transport ammunition, will be manufactured by AAR SUMMA Technology in Cullman, Alabama through June 2009. The order was placed as part of a five-year Indefinite Delivery/Indefinite Quantity …
AAR receives $28 million order for container roll in/out platforms Read More »
AAR announced that it is significantly expanding its Composites manufacturing operations with the lease of a 90,000 square-foot facility located at the McClellan Business Park, formerly McClellan Air Force Base, in Sacramento, California. AAR will occupy the portion of the McClellan facility formerly used by the U.S. Air Force for manufacturing composite replacement aircraft parts. …
AAR CORP. released that the initial purchasers of the convertible senior notes issued on February 11, 2008 (the “Notes”) have exercised in full their over-allotment option to purchase an additional $25 million in aggregate principal amount of Notes. The additional Notes will be allocated evenly between the two tranches of Notes, resulting in a total …
AAR CORP. reported the completion of a private placement of $125 million aggregate principal amount of 1.625% convertible senior notes due 2014 and $100 million aggregate principal amount of 2.25% convertible senior notes due 2016 (together, the “Notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of …
AAR completes $225 million private placement of convertible notes Read More »
AAR released that Robert J. Regan, who will join AAR on March 3, has been selected as the Company’s next general counsel following the retirement of Howard A. Pulsifer who, after 20 years, plans to retire effective June 1, 2008. Regan previously served as a partner at Schiff Hardin LLP, a general practice law firm, …
Robert J. Regan to become VP and General Counsel of AAR CORP. Read More »
AAR reported that Donald J. Wetekam has been named Group Vice President of the Company’s Maintenance, Repair and Overhaul (MRO) segment. Wetekam previously served as President and General Manager of AAR’s Aircraft maintenance facility in Oklahoma City. As Group Vice President, Wetekam will oversee all of AAR’s MRO activities and be responsible for growing the …
AAR names D.J. Wetekam new Group VP of MRO segment Read More »
