Wood Dale, Illinois, Aug. 01, 2022 (GLOBE NEWSWIRE) -- AAR Sumisho Aviation Services (ASAS), a joint venture launched by AAR CORP. (NYSE: AIR) and Sumitomo Corporation, announced a new agreement with Northrop Grumman for E-2D Advanced Hawkeye aircraft parts distribution. The Japan Air Self-Defense Force has been operating the E-2D since March 2019.
Under the five-year agreement, ASAS will be the distributor of certain Northrop Grumman parts to the Japan Ministry of Defense’s (JMOD) E-2D tactical airborne early warning aircraft program. ASAS will provide parts demand forecasting, stock component and spare parts inventory, and manage logistics to support the program. This relationship, ASAS’ first with Northrop Grumman, builds on AAR’s and Sumitomo’s long-term relationships with the E-2 program, along with their combined strengths in offering product and service solutions to Japan’s defense sector.
“ASAS is enthusiastic about working with Northrop Grumman to bring our OEM Solutions expertise to the Japanese defense industry,” said Frank Landrio, ASAS Chief Executive Officer. “The global capabilities of ASAS and our support of defense-critical missions position us to best service the JMOD.”
In November 2014, JMOD competitively selected the Northrop Grumman E-2D to fulfill an emerging next-generation airborne early warning requirement. Japan has operated 13 Northrop Grumman E-2C Hawkeyes since 1983 and is the largest E-2 operator outside the U.S.
About ASAS
AAR Sumisho Aviation Services LLC is a 50/50 joint venture between AAR Supply Chain, Inc., a wholly-owned subsidiary of AAR CORP., and ASAS Japan Inc., a wholly-owned subsidiary of Sumitomo Corporation. The Chicago area based joint venture was established in 2020 to provide comprehensive parts supply and services, including the distribution of OEM parts, to Japanese defense customers, and to distribute parts globally on behalf of Japanese OEMs. ASAS combines AAR’s global network and competitive expertise in aviation supply chain and parts distribution with Sumitomo’s logistics specialization and large footprint in the Japanese market. Additional information can be found at asas-corp.com.
About AAR
AAR 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. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair, and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at aarcorp.com.
About Sumitomo Corporation
Sumitomo Corporation (“SC”) is a leading Fortune 500 global trading and business investment company with 131 locations (Japan: 20, Overseas: 111) in 66 countries and regions. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with financing, serves as an organizer and a coordinator for projects, and invests in companies to promote greater growth potential. SC’s core business areas include six business units: Metal Products; Transportation and Construction Systems; Infrastructure; Media and Digital; Living Related and Real Estate; Mineral Resources, Energy, and Chemical and Electronics and one initiative: Energy Innovation. Our corporate message, “Enriching lives and the world”, was created to encapsulate our vision for sustainability in the next 100 years. Our business, as well as our relationship with our stakeholders, has expanded on a global scale. Our mission is to grow sustainably alongside society, pursue development for the world, and enable better lives for all. For more information, please visit: https://www.sumitomocorp.com/en/jp.
| This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 which reflect management’s expectations about future conditions. Forward-looking statements may 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 similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of ASAS management, as well as assumptions and estimates based on information currently available to ASAS, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond ASAS’s control. ASAS assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. |
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