AAR To Divest Landing Gear Overhaul Business - Quick Facts

(RTTNews) - AAR CORP. (AIR) has entered into a definitive agreement to divest its Landing Gear Overhaul business to GA Telesis. The transaction includes AAR's Miami, Florida, based Landing Gear Overhaul business, part of the company's Repair & Engineering segment, that provides full-service landing gear maintenance, repair, and overhaul services to commercial and government customers. The transaction is valued at $51 million. The company said the divestiture will be immediately accretive to margins and earnings.

AAR noted that the divestiture is part of its strategic plan to optimize portfolio by investing in core functions that will accelerate targeted growth and margin expansion initiatives.