AAR and Sumitomo Corporation announce joint venture to provide aviation aftermarket supply chain solutions to Japanese defense and global commercial markets
AAR Corp. (AIR)
Last aar corp. earnings: 3/24 04:05 pm
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Source: GlobeNewswire
WOOD DALE, Illinois, March 31, 2020 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR), a leading aviation services provider to commercial airlines and governments worldwide, and Sumitomo Corporation, a top Japanese trading company, are launching a joint venture ? AAR Sumisho Aviation Services. This Chicago-area-based joint venture will distribute aircraft parts and offer aviation logistics management solutions to the Japanese defense market. Additionally, the partnership will distribute parts from OEMs based in Japan to the global aviation aftermarket. This business initiative builds upon the parties’ successful, long-standing relationship, under which AAR has served as a stocking distributor for OEM factory-new parts to Japanese defense customers via Sumitomo Corporation since 2012. “We look forward to partnering with AAR to serve our Japanese customers and make our services more accessible to customers around the world,” said Eiji Ishida, Sumitomo Corporation Executive Officer and GM of the
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AIR
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