October 10, 2001
AAR Cargo Systems Selected by FedEx to Design and Manufacture MD-11 Cargo Loading Systems
WOOD DALE, Ill., /PRNewswire/ -- AAR (NYSE: AIR) announced today that the Company's cargo systems manufacturing division, AAR Cargo Systems, was awarded a contract with FedEx to design and manufacture the main deck cargo loading systems for their MD-11 freighters. Under the contract, a total of 13 cargo loading systems will be provided as buyer furnished equipment in support of the FedEx MD-11 freighter conversion program with Boeing Airplane Services.
"AAR has developed a new generation MD-11 cargo loading system for FedEx that offers unique features to quicken the loading and unloading process," said AAR Cargo Systems President and General Manager, Ron Kelner. "We are pleased that FedEx has granted us the opportunity to enhance their MD-11 freighter operations".
AAR Cargo Systems, an operating unit of AAR (NYSE: AIR), is based in Livonia, MI and specializes in the design and manufacture of in-aircraft cargo loading systems. AAR is the preeminent provider of products and value-added services to the worldwide aerospace/aviation industry. Products and services include proprietary inventory management and logistic support services, encompassing supply, repair and manufacture of spare parts and systems. Headquartered in Wood Dale, Illinois, AAR serves commercial and government aircraft fleet operators and independent service customers throughout the world. Further information can be found at www.aarcorp.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. 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, depending on a variety of factors, including: implementation of information technology systems, integration of acquisitions, marketplace competition, economic and aviation/aerospace market stability and Company profitability. 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.
SOURCE AAR CORP.
CONTACT: Dawn Kaiser of AAR Corp., Investor Relations, +1-630-227-2098, dkaiser@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.
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