May 08, 2013
AAR Chairman and CEO David P. Storch Named to Smithsonian National Air and Space Museum Board
Appointment aligns with Company’s advocacy of STEM education initiatives and careers
WOOD DALE, Illinois — AAR Chairman and Chief Executive Officer David P. Storch has been appointed to serve on the Smithsonian Institution's National Air and Space Museum Board. The board is comprised of distinguished supporters of the aerospace community who provide leadership, advice and support to the museum's director.
AAR (NYSE: AIR) is a global aerospace and defense contractor that hires people with advanced and applied STEM capabilities, from helicopter pilots to avionics technicians to aircraft mechanics. Storch advocates nationally for enhanced STEM programs to build a skilled, technical labor force, commissioning the special report “The Mid-Skills Gap in Middle America: Building Today’s Workforce” in 2011.
“I have been fascinated with flight and space exploration since childhood. So it is indeed an honor to be appointed to serve on the National Air and Space Museum Board,” said Storch. “The history and technology captured at the museum makes it a national treasure that fuels imaginations and inspires greatness in children and adults.”
The museum has the largest collection of historic aircraft and spacecraft in the world. It is a vital center for research into the history, science and technology of aviation and space flight, as well as planetary science and terrestrial geology and geophysics.
In 1996, Storch became only the second CEO in AAR’s corporate history. AAR has been recognized as the top supplier of aircraft parts in the world and applauded by Chicago Mayor Rahm Emanuel for its public-private partnerships to align aviation curriculum with industry standards.
The National Air and Space Museum is charged with commemorating the national development of aviation and spaceflight, and with educating and inspiring the nation through the preservation and display of aeronautical and spaceflight equipment and data; the development of educational materials and programs; and through research into the study of aviation and spaceflight and their related technologies.
About AAR
AAR is a global aftermarket solutions company that employs more than 6,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; engineering services and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
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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, 2018. 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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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 that it intends to offer, subject to market conditions and other factors, $150 million aggregate principal amount of 6.750% senior notes due 2029 (the “Additional Notes”). The Additional Notes will be issued as additional notes under an existing indenture dated March 1, 2024, pursuant to which the Company previously issued $550.0 million aggregate principal amount of 6.750% senior notes due 2029 (the “Existing Notes” and together with the Additional Notes, the “Notes”). Other than with respect to the date of issuance and the offering price, the Additional Notes will have the same terms as the Existing Notes.
