July 14, 2006
Patrick J. Kelly Elected to AAR CORP. Board of Directors
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) announced that its Board of Directors has elected Patrick J. Kelly as a Director of the Company for a three-year term.
Kelly, 51, currently serves as Chief Executive Officer of Resource One, an Oak Brook, Illinois based provider of computer programming services and as Managing Director of KMK & Associates, a private equity firm with interests in companies operating in the distribution, technology, real estate and financial services industries.
"Patrick's business and entrepreneurial skills and experience in building and managing a diverse group of companies, will serve us well as we position the business for future growth," said David P. Storch, Chairman, President and Chief Executive Officer of AAR CORP. "We welcome him to our Board and look forward to his participation and contributions."
AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing.
SOURCE AAR CORP.
CONTACT: Chris Mason, Director, Corporate Communications of AAR CORP., +1-630-227-2062, chris.mason@aarcorp.com
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Wood Dale, Illinois – AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today the pricing of an underwritten registered public offering of 3,000,000 shares of its common stock at a public offering price of $83.00 per share. The underwriters have a 30-day option to purchase up to an additional 450,000 shares from the Company at the public offering price. The Company estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions, will be approximately $239.0 million, or $274.9 million if the underwriters exercise their option to purchase additional shares in full. The shares are expected to be delivered on or about October 2, 2025, subject to customary closing conditions.
