3 December 2013
AAR Corp. (NYSE: AIR) said its 100% owned subsidiary, Telair International GmbH, has signed a definitive agreement to purchase the cargo loading system assets of Speyer, Germany based PFW Aerospace GmbH.
The acquisition will enhance Telair´s market position as one of the leading suppliers globally of cargo loading and baggage handling systems. Upon completion of a transition period after closing, Telair will transfer the assets to, and perform operations at, its Miesbach, Germany facility.
The acquisition will be funded from available cash on hand and is expected to be completed by the end of the calendar year.
Telair, based in Miesbach, Germany, is a leader in the design, manufacture and support of cargo loading systems for wide-body and narrow-body aircraft with established positions on the world´s most popular current and next-generation passenger and freighter models.
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. More information can be found at www.aarcorp.com.