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Industry leader to expand support for commercial airline customer
DULUTH, Minn., Sept. 26, 2013 /PRNewswire/ -- AAR (NYSE: AIR) announces it has ramped up a third line of maintenance to support Air Canada's fleet of commercial aircraft as part of a multiyear agreement to perform maintenance, repair and overhaul (MRO) at its Duluth repair station.
The expansion solidifies AAR's position in the region and moves the Company closer to its goal of employing as many as 225 people at the facility. The Company currently employs 276 and has 40 openings. AAR reopened the once-abandoned hangar last November with one line of maintenance and added a second line of maintenance in March for the commercial carrier.
"When AAR first came to Duluth, the goal was to make this facility fully operational. In less than a year, we've earned the confidence and trust of the customer and have demonstrated that we are committed to doing business in Duluth over the long term," said Dany Kleiman, Aviation Services Group Vice President – Repair and Engineering. "I attribute our success to a combination of factors: a welcoming government, business and civic community, a great customer in Air Canada, and a talented team of aircraft maintenance technicians."
AAR's investments in the facility helped turn the 188,000-square-foot vacant building into a growing business while bringing the Company's world-class MRO management systems and processes to the new operation. The Duluth MRO operates as part of AAR's 1MRO service delivery network, which integrates technology with maintenance and engineering protocols across five MRO facilities nationwide and gives AAR's customers more options and flexibility for maintaining their aircraft.
AAR recently opened a sixth North American MRO at Chennault International Airport in Lake Charles, Louisiana. The facility can accommodate up to 7 wide-body or 10 narrow-body aircraft. AAR quickly announced it would fill 250 positions, with plans to hire an additional 500 by 2017.
"As we expand our North American MRO operations, we're committed to building partnerships in Duluth and beyond to identify and develop the talented aircraft maintenance professionals we need to continue to be successful," Kleiman added.
AAR has been ranked the No. 1 Airframe MRO Provider in North America and No. 3 in the world, based on an industry survey by Aviation Week, a leading source of global aerospace information.
AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: Aviation Services and Technology Products. AAR's services include inventory management and parts distribution; aircraft maintenance, repair and overhaul; and expeditionary airlift. AAR's products include cargo systems and containers; mobility systems and shelters; advanced aerostructures; and command and control systems. More information can be found at www.aarcorp.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. 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, 2013. 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.
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