17 December 2013
AAR Corp. (NYSE: AIR) subsidiary Telair International GmbH said it has completed the acquisition of cargo loading system assets of Speyer, Germany based PFW Aerospace GmbH, which the company announced on December 2, 2013.
The acquisition will enhance Telair´s market position as one of the leading suppliers globally of cargo loading and baggage handling systems. The acquired assets include the cargo loading system business for the Airbus A320 family of aircraft and aftermarket spares for additional legacy PFW cargo loading systems produced for other Airbus platforms. Upon completion of a transition period after closing, Telair will transfer the assets to, and perform operations at, its Miesbach, Germany facility. The acquisition was funded from available cash on hand.
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.