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WOOD DALE, Ill. - AAR CORP. (NYSE: NYSE:AIR), a prominent aviation service provider with a market capitalization of $2.2 billion, has entered into an exclusive Distribution and License Agreement with Chromalloy’s subsidiary, BELAC LLC, for the distribution of Parts Manufacturer Approval (PMA) high pressure turbine blades for PW4000 engine platforms. According to InvestingPro data, the company has demonstrated strong revenue growth of 18.5% over the last twelve months.
The agreement, which spans multiple years, positions AAR to maintain guaranteed stock levels of the sought-after T1 blade, complementing an existing contract for distributing BELAC’s T1 and T2 turbine blades for the CF6-80C2 engine platform. This move is intended to enhance AAR’s engine portfolio and support its growth in product offerings. InvestingPro analysis indicates the company maintains a healthy financial position with liquid assets exceeding short-term obligations, reflected in a current ratio of 2.68.
Sal Marino, AAR’s Senior Vice President of Parts Supply, emphasized the company’s commitment to delivering cost-saving solutions to its global customers and expressed enthusiasm for the expanded partnership with Chromalloy, which is expected to offer additional engine material options and improve supply chain reliability for the aviation industry.
Mike Zerbe, General Manager of BELAC, remarked on the engineered durability of BELAC products and their potential for delivering downstream cost savings. The collaboration with AAR is anticipated to bolster the material options available to the global market.
AAR, headquartered in the Chicago area, operates in over 20 countries and provides aftermarket solutions to commercial and government entities through four segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services.
Chromalloy has been a trusted partner in the aerospace, military, and energy sectors for over 70 years, offering engineering, manufacturing, and service solutions. They specialize in FAA-certified PMA and DER solutions, focusing on value during engine restoration and maintenance.
The information for this article is based on a press release statement.
In other recent news, Airbus has reported its financial results for the fourth quarter of 2024, showing a 6% increase in revenue to 69.2 billion euros. However, the adjusted earnings per share (EPS) declined from 5.36 euros to 5.05 euros. The company has proposed a dividend of 2 euros per share, along with a special dividend of 1 euro per share. Airbus aims to deliver approximately 820 aircraft in 2025, with an adjusted EBIT target of around 7 billion euros. The company’s acquisition of Spirit AeroSystems (NYSE:SPR) was discussed, highlighting its impact on supply chain management and production schedules. Airbus faces ongoing challenges with engine supplies, particularly from CFM and Pratt & Whitney, which could affect production timelines. Despite these issues, the company remains focused on ramping up production and advancing its defense and space sectors.
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