AAR (NYSE: AIR) announces it is acquiring inventory and customer contracts from Sabena technics Brussels and expects the transaction to close in the first week of April. The agreement includes ongoing power-by-the-hour support for 13 customers, which AAR's Aviation Supply Chain division will handle from its new facility at the Brussels Airport. In addition to supporting the customers that will transition from Sabena technics, this 24/7 facility will support AOG and other parts requirements for existing AAR customers in Europe, the Middle East and Africa.
"As AAR expands its global Aviation Supply Chain business, we recognize the importance of augmenting our support for the critical Europe, Middle East and Africa region," said David P. Storch, Chairman and Chief Executive Officer of AAR CORP. "This deal positions AAR for growth in an expanding market."
In recent years, the U.S.-based commercial aviation and defense contractor has increased its global supply chain infrastructure that now includes operations in Chicago, Singapore, Indianapolis, Toronto, Amsterdam and Brussels.
"We were pleased to find a long-term solution for our customers who will benefit from AAR's robust supply chain offering," said Rodolphe Marchais, Chairman and CEO of Sabena technics.
"The launch of our new supply chain hub establishes a rotable pool operation covering key platforms such as A330, A320, and 737NG aircraft for current and future customers," said John Holmes, Group Vice President of Supply Chain for AAR.
Source: AAR Corporation (NYSE: AIR)
Date: Mar 20, 2014