AAR wins $311M Air Force deal to restore pallets

By Associated Press
September 19, 2008 | Comments (0)

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Aerospace supplier AAR Corp. said it has received a U.S. Air Force contract worth up to $311 million to maintain and overhaul air cargo pallets.

The contract, announced Thursday, spans the next five years, with work scheduled to start in the company's fiscal second quarter.

AAR's mobility systems division will restore pallets to like-new condition, allowing the Air Force to extend their life.

"This contract marks our 45th year of providing new and remanufactured air cargo pallets to the U.S. Air Force," AAR Chairman and CEO David P. Storch said in a statement.

AAR already has received two delivery orders worth a combined $36 million, the company's statement said.

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