AAR enters exclusive distribution agreement with Arkwin Industries, supporting engine actuation and other commercial aviation products
AAR (NYSE: AIR) announced an exclusive distribution agreement with Arkwin Industries effective October 1, 2021. This partnership focuses on Arkwin’s engine actuation and commercial aviation products within the aftermarket sector. Arkwin aims to enhance its global customer support by leveraging AAR’s expertise. AAR Senior VP Eric Young emphasized that this agreement will drive growth in AAR’s OEM Solutions business, complementing existing engine offerings like the CFM56, CF34, and CF6.
- Exclusive distribution agreement with Arkwin Industries enhances AAR's product portfolio.
- Expected growth in AAR’s OEM Solutions business from the agreement.
- None.
Wood Dale, Sept. 14, 2021 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, has signed an exclusive distribution agreement with Arkwin Industries. The agreement covers Arkwin’s broad line of engine actuation and commercial aviation products for the commercial aviation aftermarket and is effective as of October 1, 2021.
“We are excited to partner with AAR as our new aftermarket partner for our commercial aviation business,” said Kristian Norheim, Arkwin Vice President of Sales & Marketing. “We are confident that Arkwin’s realignment of aftermarket support capabilities using AAR will allow Arkwin to more effectively support our global customer base.”
“We are thrilled to add Arkwin’s products to our portfolio and look forward to working with its team to provide market intelligence and grow its footprint,” said Eric Young, AAR Senior Vice President of OEM Solutions. “This agreement provides meaningful growth to AAR’s OEM Solutions business and the CFM56, CF34, and CF6 products complement our existing engine offering.”
For more information about AAR´s OEM Solutions, please visit aarcorp.com/oems/.
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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 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 operations. Additional information can be found at www.aarcorp.com.
About Arkwin
Arkwin Industries designs, tests, manufactures, and supports precision hydraulic and fuel system components for civil and military fixed-wing aircraft, helicopters, spacecraft, turbine engines, and other special applications. We have grown from a start-up company in 1951 in rural Kansas to a modern, multi-faceted organization headquartered in Westbury, NY, just outside New York City. Our reputation for quality and reliability, as well as our location, allow us to attract some of the best engineering, technical, and manufacturing talent available. Additional information can be found at www.arkwin.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 which reflect management’s expectations about future conditions, including that Arkwin’s realignment of aftermarket support capabilities using AAR will allow Arkwin to support its global customer base; working with the Arkwin team to provide market intelligence and grow their footprint; and that the agreement will provide meaningful growth to AAR’s OEM Solutions business and the CFM56, CF34, and CF6 products complement AAR’s existing engine offering. 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. |
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