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AAR Corp

 

AAR Corp

AAR Corp.
Public (NYSE: AIR)
Industry Aviation
Aerospace & Defense
Founded incorporated 1955
Founder Ira Allen Eichner
Headquarters Wood Dale, IL, USA
Area served
Worldwide
Key people
David Storch
(Chairman) & (CEO)
Tim Romenesko (COO)
Revenue US$2.0 Billion (FY 12)[1]
US$130.7 Million (FY 12)[1]
US$67.7 Million (FY 12)[1]
Total assets US$2.2 Billion (FY 12)[1]
Total equity US$866 Million (FY 12)[1]
Number of employees
6,700 (FY 12)[1]
Website www.aarcorp.com

AAR CORP. is an aviation support company. Founded in 1951, AAR provides a broad range of products and services to the aerospace and government/defense industries, with a nearly even split between them. Engineering and manufacturing products account for approximately a third of AAR’s business and aftermarket support services the remaining two-thirds.[2]

Contents

  • General information 1
  • Customers 2
  • Business segments 3
  • Acquisitions 4
  • References 5

General information

Founded in 1951, I.A. Allen Industrial Sales was incorporated in 1955, renamed Allen Aircraft Radio in 1962 and became AAR CORP. in 1969.[3] AAR is headquartered in Wood Dale, Illinois, a Chicago suburb near O'Hare International Airport and employs approximately 7,000 people in 17 countries at more than 60 locations around the world.[4]

Customers

AAR's customers include North American and international commercial airlines (passenger and freight); aircraft leasing companies; aviation support companies; OEMs; U.S. Department of Defense and their contractors; U.S. Department of State as well as other domestic government agencies; and foreign militaries.

Business segments

AAR organizes its business in four main segments: Aviation Supply Chain; Government & Defense Services; Maintenance, Repair and Overhaul; and Structures and Systems.[5]

The Aviation Supply Chain segment serves commercial operators and OEMS. Services this segment provides include inventory acquisition, sale, and management; component repair; authorized distribution for OEMs; and sale or lease of both engines and aircraft.

The Government & Defense Services segment serves both US and foreign governments. Services in this segment provides include Performance-based logistics program support; expeditionary airlift and aircraft modifications; and advanced communication systems integration.

The Maintenance, Repair and Overhaul segment handles whole aircraft maintenance for both commercial airlines and government fleet operators. Activities include major airframe maintenance inspection and overhaul, painting services, line maintenance, airframe modifications, structural repairs, avionic service and installation, exterior and interior refurbishment and engineering services. The Maintenance and Repair and Overhaul segment also services landing gear, wheels and brakes at separate facilities.

The Structures and Systems segment designs, manufactures and repairs airdrop and other transportation pallets, containers and shelters for military and humanitarian deployments, in plane cargo systems, and advanced composite structures for the transportation industry. This segment also provides precision-machined custom orders and high-end sub-systems.

Acquisitions

In 2007 AAR acquired three companies. First was Reebaire Aircraft,[6] which became AAR Aircraft Services - Hot Springs. This complemented AAR's existing aircraft modification and overhaul facilities in Oklahoma City and Indianapolis—the new Arkansas facility being particularly suited to servicing regional aircraft. By April that year AAR completed the purchase of Brown International,[7] which was redubbed AAR Integrated Technologies three years later.[8] In November AAR bought a third company for 2007: SUMMA Technology, Inc.[9] In time AAR SUMMA Technology was integrated together with AAR Composites to become a single business under the name AAR Precision Systems.[10]

In 2008 AAR acquired Avborne Heavy Maintenance,[11] calling it AAR Aircraft Services - Miami.

In 2010 AAR acquired Aviation Worldwide Services (AWS).[12] AWS was composed of two operating subsidiaries: Presidential Airways and STI Aviation. The purchase was completed in April and by November AAR announced that the operations would move to Melbourne, Florida. In conjunction with that announcement, AAR announced that it is rebranding AWS as AAR Airlift Group, Presidential Airways as AAR Airlift, and STI Aviation as AAR Aircraft Services – Melbourne.[13]

In 2011 AAR acquired three companies. In October AAR acquired Airinmar Holdings Limited (Airinmar), an international provider of aircraft component repair management services.[14] In December AAR acquired Telair International GmbH (Telair) and Nordisk Aviation Products A S (Nordisk) from Teleflex Incorporated.[15] Nordisk and Telair manufacture air cargo equipment and handling systems as well as provide aftermarket repair services. This acquisition added to AAR’s existing commercial cargo manufacturing business and elevated the company’s position as a tier-1 aerospace provider. Telair and Nordisk operate as part of AAR’s Structures and Systems segment.

References

  1. ^ a b c d e f "United States Securities and Exchange Commission Form 10-K" (PDF). AAR Corp. May 31, 2012. Retrieved February 5, 2012. 
  2. ^ "United States Securities and Exchange Commission Form 10-K" (PDF). AAR Corp. May 31, 2010. Retrieved November 22, 2010. 
  3. ^ "Storch to Become Chairman upon Eichner Retirement from AAR Board". AAR Corp website. January 12, 2005. Retrieved November 9, 2011. 
  4. ^ "AAR Fact Sheet" (PDF). AAR Corp website. 2012. Retrieved February 5, 2013. 
  5. ^ "AAR CORP 2010 Annual Report" (PDF). AAR Corp website. 2010. Retrieved November 22, 2010. 
  6. ^ "AAR Acquires Reebaire Aircraft, Inc.". AAR Corp Press Release. January 16, 2007. Retrieved November 22, 2010. 
  7. ^ "AAR Acquires Brown International". AAR Corp Press Release. April 3, 2007. Retrieved November 22, 2010. 
  8. ^ "AAR Brown International now operates as AAR Integrated Technologies". AAR Corp Press Release. September 27, 2010. Retrieved November 22, 2010. 
  9. ^ "AAR Acquires SUMMA Technology, Inc.". AAR Corp Press Release. December 3, 2007. Retrieved November 22, 2010. 
  10. ^ "Precision Systems". AAR Corp Website. Retrieved November 22, 2010. 
  11. ^ "AAR Acquires Avborne Heavy Maintenance, Inc.". AAR Corp Press Release. March 5, 2008. Archived from the original on 13 October 2010. Retrieved November 22, 2010. 
  12. ^ "AAR Acquires Aviation Worldwide Services". AAR Corp Press Release. April 7, 2010. Retrieved November 22, 2010. 
  13. ^ "AAR AAR to Relocate Airlift Group to Melbourne, Florida". AAR Corp Press Release. November 8, 2010. Retrieved November 22, 2010. 
  14. ^ "AAR Acquires International Component Repair Management Provider Airinmar". AAR Corp Press Release. October 11, 2011. Retrieved January 6, 2011. 
  15. ^ "AAR CORP Completes the Acquisition of Telair® International and Nordisk Aviation". AAR Corp Press Release. December 2, 2011. Retrieved January 6, 2011. 

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