AAR Corp. Enters Into A Military Distribution Agreement With Ontic

(RTTNews) - Aviation service provider, AAR Corp. (AIR) has signed a new multi-year military distribution agreement with Ontic, an aerospace Original Equipment Manufacturer or OEM on Thursday.

The deal provides exclusive distribution rights to AAR to supply strategic military equipment to U.S. government, the company said in a statement.

Currently, AAR provides military and commercial distribution support to Ontic's facilities in United Kingdom and North Carolina. Under this agreement, AAR will provide support to Ontic's Chatsworth facility in California.

In the pre-market activity, AAR's stock is moving up 1.67%, to $62.19 on the New York Stock Exchange.