Company Announcements

Wood Dale, Illinois, Dec. 11, 2023 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has added distribution support of select Woodward, Inc. (Woodward) parts under its Supplier Capability Contract with DLA Aviation.

Under this multiple year agreement, AAR will supply DLA with spare parts from Woodward’s fuel control product family to which AAR holds an exclusive distribution agreement with Woodward as the single source of supply to the government for items sole source to Woodward in support of various military aircraft platforms. AAR will provide comprehensive and integrated supply chain management support and perform associated supply chain management functions to maximize the availability of parts to DLA. The relationship reduces supply volatility through improved material availability.

In 2022, AAR was the first non-OEM to be awarded the 20-year base Supplier Capabilities Contract with the Defense Logistics Agency (DLA), establishing a strategic relationship to provide total global supply chain support to the DOD and to U.S. allies.

“AAR is proud to grow our strategic partnership with the DLA under our Supplier Capabilities Contract,” said Frank Landrio, AAR’s SVP of Distribution. “Our new Woodward agreement will enhance the level of support we provide the U.S. government and help promote increased warfighter readiness.”

For more information on AAR’s Distribution division, which is part of the Company’s Parts Supply segment, visit https://www.aarcorp.com/en/products/distribution/.

About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at aarcorp.com.

About Woodward, Inc.
Woodward is the global leader in the design, manufacture, and service of energy conversion and control solutions for the aerospace and industrial equipment markets. Together with our customers, we are enabling the path to a cleaner, decarbonized world. Our innovative fluid, combustion, electrical, propulsion and motion control systems perform in some of the world’s harshest environments. Woodward is a global company headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.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 which reflect management’s expectations about future conditions, including expected activities and benefits under the agreements. 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 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. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in our 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 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.