Agreement valued at more than $1 billion over 11-year period
Wood Dale, Illinois, July 14, 2020 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR), a leading provider of aviation services to commercial and government operators worldwide, and Unison Industries jointly announced today the expansion and extension of the longstanding partnership as the exclusive worldwide aftermarket distributor for Unison Industries´ aviation, aerospace, military, civil and land vehicles products. The agreement adds new material content to include new product introduction spanning multiple aircraft platforms.
As exclusive distributor, AAR will be responsible for developing customized sales strategies and marketing campaigns, executing growth plans, forecasting, warehousing and performing aftermarket product distribution services of Unison Original Equipment Manufacturer (OEM) replacement parts. In addition, AAR will provide 24/7 Aircraft-On-Ground (AOG) call center support to deliver rapid-response services to customers using Unison products in the aviation aftermarket.
Components covered by the program include turbine ignition systems, engine-dedicated alternators, sensors, switches, wiring harnesses, bellows and metal tubing/ducting consumed by commercial and military aircraft operators, maintenance repair and overhaul facilities and other industry customers, worldwide. The agreement also includes repair services management backed by AAR's supply chain and customer support network.
“We are very excited to expand our longstanding partnership with Unison Industries and to continue supporting our aftermarket customers,” said Eric Young, AAR Senior Vice President of OEM Solutions. “We look forward to continuing our pivotal partnership role, serving as a value-add salesforce multiplier for Unison and proactively driving strategic initiatives.”
Tom Hoferer, President of Unison Industries said, "Extending the Unison business relationship with AAR is of vital strategic importance to the Unison business. Expanding our agreement another 11 years with additional content speaks to the value we place on AAR and the value they bring to our customers. Executing a contract extension in these challenging times speaks to the deep partnership we have, and will continue to grow, with AAR.”
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AAR is a global aerospace and defense aftermarket solutions company that operates 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 Unison Industries
Unison Industries, LLC, is a leading global supplier of complex gas turbine engine components and electrical & mechanical systems. Unison is a supplier to nearly every engine and airframe program, providing the most advanced performance solutions for a wide variety of markets including aviation, space and defense, power, oil and gas, and transportation. Unison is a global company, employing more than 2,000 people around the world. Unison has five major manufacturing locations as well as engineering centers and supporting sites across the globe. For more information, visit www.unisonindustries.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 agreement valued at more than $1 billion in sales over an 11 year period. 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, 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
+1 630 227 5100
Source: AAR Corp