AAR buys former aircraft contractor of what was Blackwater

[Robb]

Source: Washington Post

A Chicago area aircraft service company said Thursday that it will pay $200 million to buy the aviation unit of the security contractor company formerly known as Blackwater Worldwide.

AAR Corp. is buying Aviation Worldwide Services, one of the units in the collection of companies owned by Xe Services, as Blackwater is now called. With annual sales of $1.4 billion, the 55-year-old AAR has about 6,000 employees in 13 countries. It maintains and repairs aircraft and handles logistics related to spare parts for commercial airlines and the U.S. military. It also makes pallets, containers and mobile hospitals.

Executives at AAR said they hope the purchase will boost the firm's government business. Aviation Worldwide Services has several contracts with the U.S. government, including some to move personnel and cargo in Afghanistan, another to move supplies between ships in Guam, and a deal to handle transportation logistics and casualty evacuation services in Africa. The aviation unit also has a deal to modify Blackhawk helicopters for the United Arab Emirates.

AAR's agreement to buy the unit is expected to close in the next few weeks.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/03/25/AR2010032503931.html