GARDEN CITY, New York, May 21, 2014 – AAR (NYSE: AIR) has won a contract that expands its component repair support of The Boeing Company’s Helicopter Recapitalization Program for the U.S. Army. Under a five-year general terms agreement on Multi Year II, AAR will overhaul multiple components on the CH-47 Chinook helicopter. This is a significant increase over AAR’s portion of Boeing’s initial Multi Year I program.
The work is being performed at AAR Aircraft Component Services in Garden City, N.Y., which already has received more than 300 units from Boeing’s facility in Ridley Park, Pa., near Philadelphia. The first repaired and overhauled units have already shipped back to Boeing.
Boeing’s Recapitalization Program breathes new life into old U.S. Army CH-47 helicopters. As part of this program, the airframe is discarded and the components are harvested and sent out for repair and overhaul. The refurbished parts are put into a new airframe along with other modern upgrades.
“Boeing tried AAR and appreciated our performance and the cost savings we provided, which led to this expansion,” said Glenn Meyers, Vice President, Military Programs, for AAR. “The recapitalization program is important to our nation’s security and our military’s effectiveness, which AAR is always proud to support.”
The CH-47 helicopter is viewed as critical to supporting our troops, logistics and humanitarian relief efforts for military operations around the world. Recapitalization has saved the U.S. government hundreds of millions of dollars.
AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: Aviation Services and Technology Products. AAR’s services include inventory management and parts distribution; aircraft maintenance, repair and overhaul; and expeditionary airlift. AAR’s products include cargo systems and containers; mobility systems and shelters; advanced aerostructures; and command and control systems. More information can be found at www.aarcorp.com.