AAR signs exclusive PW4000 agreement with Chromalloy
Rhea-AI Summary
AAR CORP. (NYSE: AIR) has entered into an exclusive Distribution and License Agreement with Chromalloy's subsidiary BELAC for PMA high pressure turbine blades for PW4000 engine platforms. The multi-year contract will maintain guaranteed stock levels for in-demand T1 blades.
This agreement expands upon an existing partnership where AAR distributes BELAC's T1 and T2 turbine blades for the CF6-80C2 engine platform. The collaboration aims to enhance supply chain reliability and provide cost-saving solutions to AAR's global customer base while offering additional engine material options.
Positive
- Secured exclusive distribution rights for high-demand PW4000 engine components
- Expanded existing partnership with guaranteed stock levels
- Enhanced product portfolio in the engine solutions segment
Negative
- None.
News Market Reaction
On the day this news was published, AIR gained 2.30%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The multi-year contract will ensure guaranteed stock levels for the in-demand T1 blade on this high value engine platform. This complements an existing AAR agreement to distribute BELAC's T1 and T2 turbine blades for the CF6-80C2 engine platform.
"BELAC products are engineered to provide enhanced durability and deliver downstream cost savings. By collaborating with AAR, we are able to offer additional engine material options and enhance supply chain reliability for the global aviation market," commented Mike Zerbe, General Manager of BELAC.
"AAR is focused on delivering cost saving solutions to our global customer base," said Sal Marino, AAR's Senior Vice President of Parts Supply. "We are pleased to expand AAR's engine portfolio and support the continued growth of our product offerings through this relationship with Chromalloy."
For more information on AAR's engine solutions, part of the Company's Parts Supply segment, visit https://www.aarcorp.com/en/products/engine-solutions/.
About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the
About Chromalloy
Chromalloy is a leading provider of engineering, manufacturing, and service for the aerospace, military, aero-derivative, and energy/industrial gas turbine aftermarket. For over 70 years, Chromalloy has been a trusted partner of airlines, aero-engine asset owners, and engine repair facilities. Chromalloy is a leader in FAA-certified, third-party PMA and DER solutions to enable customer value during engine restoration and maintenance. The combination of alternative PMA new parts, DER part repairs, and inventory of used serviceable material (USM) enables each engine overhaul to achieve expected performance and achieve best value. Operating from over 20 locations worldwide, Chromalloy remains committed to having the right global team, available inventory, and a bias for addressing service needs for legacy and midlife engines. Our investments in design engineering, testing, and component manufacturing ensure that all regulatory and performance criteria are met or exceeded. For additional information, please visit www.chromalloy.com.
This press release may contain 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, reflecting management's expectations about future conditions, including anticipated activities and benefits under the distribution and license agreement. 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 management, as well as assumptions and estimates based on information currently available to management 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 AAR CORP.'s 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 management's control. Management 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. |
Contact:
Media Team
+1-630-227-5100
Editor@aarcorp.com
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SOURCE AAR CORP.
FAQ
What is the scope of AAR's new distribution agreement with Chromalloy for PW4000 engines?
How does the new PW4000 agreement complement AAR's existing partnership with BELAC?
What are the expected benefits of AAR's PW4000 turbine blade distribution agreement?
When does AAR's exclusive distribution agreement for PW4000 turbine blades take effect?
