Rockwell Collins to acquire Air Routing International
CEDAR RAPIDS, Iowa - Rockwell Collins, Inc. (NYSE: COL) today announced its intent to acquire AR Group, Inc., and its affiliated companies including Air Routing International, a premier provider of trip support services for business aircraft flight operations. Terms of the agreement were not disclosed.
Air Routing has been providing flight departments with trip planning services for more than 30 years. Recently, the company extended its offering to give customers comprehensive online access to its flight support tools. This offering provides customers with a single-source, global solution for weather services, flight planning services, fuel arrangements, international trip handling and concierge services. The company has 240 employees and is headquartered in Houston, Texas.
“The acquisition of Air Routing will broaden our information management and aftermarket services offerings,” said Rockwell Collins Chairman, President and CEO Clay Jones. “Air Routing’s strong customer relationships, flight operations support services and trusted agent network complement our information management strategy to deliver enhanced value to business aircraft operators.”
“Rockwell Collins’ global presence and strong reputation in business aviation complement Air Routing’s offerings, especially for our new flight support services” said Air Routing Group CEO, Rudy Fabre. “We’re very excited about the opportunity this provides to deliver even greater value to new and existing customers.”
Rockwell Collins currently provides flight deck, cabin and information management solutions to business aircraft operators. The acquisition of Air Routing will extend the company’s service offerings to enable global flight operation support services that leverage emerging connectivity solutions.
Pursuant to the terms of the agreement, Rockwell Collins will acquire all outstanding shares of AR Group, Inc. and its affiliated companies. The transaction is expected to be completed in about 40 days and is subject to customary conditions to closing, including regulatory and other approvals. The acquisition is expected to be neutral to Rockwell Collins’ fiscal year 2010 earnings. AR Group, Inc. was advised by Stoneworth Financial in this transaction.
About Air Routing International
Air Routing International is a worldwide leader in corporate flight handling and trip support. For the past 31 years, Air Routing has continued to guide corporate flight planners and pilots through the challenges of domestic and international air travel, providing services ranging from international permits and route planning to weather reports as well as refueling and online services. www.airrouting.com.
About Rockwell Collins
Rockwell Collins (NYSE: COL) is a pioneer in the development and deployment of innovative communication and aviation electronics solutions for both commercial and government applications. Our expertise in flight deck avionics, cabin electronics, mission communications, information management and simulation and training is delivered by nearly 20,000 employees, and a global service and support network that crosses 27 countries. To find out more, please visit www.rockwellcollins.com.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of AR Group, Inc. into Rockwell Collins.
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