PARIS, June 21, 2011 /PRNewswire/ -- AAR CORP. (NYSE: AIR) and Unison Industries jointly announced today from the Paris Air Show that they have entered into an exclusive worldwide aftermarket distribution agreement for Unison Industries' electrical components, sensors, and systems for aircraft and industrial uses. The agreement is valued at more than $600 million dollars over a 10-year term.
As exclusive distributor, AAR will be responsible for forecasting, ordering, warehousing, and performing aftermarket product distribution of genuine Unison Original Equipment Manufacturer (OEM) replacement parts. In addition, AAR will provide a 24x7x365 Aircraft On Ground (AOG) call center to provide rapid-response support services to customers using Unison products in the aviation aftermarket.
"We look forward to leveraging our distribution and supply chain capabilities for this new global distribution and support program with Unison," said David P. Storch, Chairman and Chief Executive Officer for AAR. "Unison is a market leader and a formidable driver of technologies. We're excited about complementing their advanced products with our innovative supply chain solution."
Components covered by the program include turbine ignition systems, engine-dedicated alternators, sensors, switches, wiring harnesses and metal tubing/ducting consumed by commercial and military aircraft operators, Maintenance Repair and Overhaul facilities (MROs), and other industry customers, worldwide.
Nate Manning, President of Unison Industries said, "Unison's aftermarket distribution agreement with AAR provides our customers with an extensive global channel and a streamlined process to obtain genuine Unison parts needed for optimal engine and aircraft performance."
The agreement includes new parts distribution, repair services management and flight hour programs, backed by AAR's world-class supply chain and customer support network. The program will be managed by AAR Distribution, which operates as part of AAR's Allen Asset Management division, providing a full range of supply chain, component repair and parts distribution services to the commercial aviation industry.
Unison Industries, LLC, is a leader in the design, manufacture and integration of electrical and mechanical components and systems for aircraft engines and airframes. Unison serves both original equipment manufacturers and aftermarket customers in commercial, military and general aviation markets. Unison's headquarters are in Cincinnati, OH, and it employs more than 4,000 people in fifteen manufacturing facilities and logistics centers worldwide. For more information, visit www.unisonaviation.com.
AAR is a leading provider of products and value-added services to the worldwide aerospace and government and defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and government and defense customers through four operating segments: Aviation Supply Chain; Government and Defense Services; Maintenance, Repair and Overhaul; and Structures and Systems. More information can be found at www.aarcorp.com.
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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. 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 May 31, 2010 Form 10-K. 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.
SOURCE AAR; Unison