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AAR
AAR Receives Pallet Repair Contract Valued at Up to $311 Million
October 3rd, 2008
AAR (NYSE:AIR) announced that it has received a contract from the U.S. Air Force for the maintenance and overhaul of air cargo pallets, valued at up to $311 million over the next five years. Two delivery orders with a combined value of approximately $36 million have already been received. Work is scheduled to begin in the second quarter of the Company's current fiscal year. Under the terms of the agreement, AAR will repair and restore pallets to like-new condition, offering the Air Force a cost-effective means to extend the life of its existing inventory. The work will be performed by AAR's Mobility Systems division, which designs, builds, integrates and supports rapid...
Source: Health Business Week (2008-10-03)
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