AAR sells off manufacturing business
WOOD DALE -- AAR Corp. said it is selling off its aerospace composite manufacturing business to Architect Equity fro an undisclosed amount.
The Composites business designs, fabricates and assembles composite aerospace products for customers in the commercial aerospace and defense industries. The business employs approximately 150 people at facilities located in Clearwater, Florida and Sacramento, California.
Architect is an investor that AAR officials said was the right partner to ensure continued success of the business and its customers and employees.
"This divestiture is consistent with our multiyear strategy to focus our portfolio on our core services offerings. It will reduce complexity and allow us to further prioritize our efforts on our market-leading aviation aftermarket operations," said John M. Holmes, AAR president and chief executive officer.
The sale is expected to close in the third quarter of calendar year 2020.