GlobeNewswire Inc | Sep 14, 2021 04:02PM EDT

September 14, 2021

Wood Dale, Sept. 14, 2021 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, has signed an exclusive distribution agreement with Arkwin Industries. The agreement covers Arkwins broad line of engine actuation and commercial aviation products for the commercial aviation aftermarket and is effective as of October 1, 2021.

We are excited to partner with AAR as our new aftermarket partner for our commercial aviation business, said Kristian Norheim, Arkwin Vice President of Sales & Marketing. We are confident that Arkwins realignment of aftermarket support capabilities using AAR will allow Arkwin to more effectively support our global customer base.

We are thrilled to add Arkwins products to our portfolio and look forward to working with its team to provide market intelligence and grow its footprint, said Eric Young, AAR Senior Vice President of OEM Solutions. This agreement provides meaningful growth to AARs OEM Solutions business and the CFM56, CF34, and CF6 products complement our existing engine offering.

For more information about AARs OEM Solutions, please visit aarcorp.com/oems/.

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About AARAAR 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 two operating segments: Aviation Services and Expeditionary Services. AARs Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AARs Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.

About Arkwin

Arkwin Industries designs, tests, manufactures, and supports precision hydraulic and fuel system components for civil and military fixed-wing aircraft, helicopters, spacecraft, turbine engines, and other special applications. We have grown from a start-up company in 1951 in rural Kansas to a modern, multi-faceted organization headquartered in Westbury, NY, just outside New York City. Our reputation for quality and reliability, as well as our location, allow us to attract some of the best engineering, technical, and manufacturing talent available. Additional information can be found at www.arkwin.com.

This press release contains certain statements relating to future results,which are forward-looking statements as that term is defined in the PrivateSecurities Litigation Reform Act of 1995 which reflect management?sexpectations about future conditions, including that Arkwin?s realignment ofaftermarket support capabilities using AAR will allow Arkwin to support itsglobal customer base; working with the Arkwin team to provide marketintelligence and grow their footprint; and that the agreement will providemeaningful growth to AAR?s OEM Solutions business and the CFM56, CF34, and CF6products complement AAR?s existing engine offering. Forward-looking statementsmay 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 similarexpressions and the negatives of those terms. These forward-looking statementsare based on beliefs of Company management, as well as assumptions andestimates based on information currently available to the Company, and aresubject to certain risks and uncertainties that could cause actual results todiffer materially from historical results or those anticipated. For adiscussion of these and other risks and uncertainties, refer to ?Risk Factors?in our most recent Annual Report on Form 10-K and subsequent Quarterly Reportson Form 10-Q. Should one or more of these risks or uncertainties materializeadversely, or should underlying assumptions or estimates prove incorrect,actual results may vary materially from those described. These events anduncertainties are difficult or impossible to predict accurately and many arebeyond the Company?s control. The Company assumes no obligation to update anyforward-looking statements to reflect events or circumstances after the date ofsuch statements or to reflect the occurrence of anticipated or unanticipatedevents.

Daniela PietschAAR Corp+16302275100editor@aarcorp.com