WOOD DALE, Ill., June 15 /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) today announced the formation of a joint venture to expand the Company's participation in the government and defense services markets. The new business, AAR Global Solutions, LLC, combines the capabilities of AAR with the experience of a seasoned government contracting team, led by Steve Cannon, former Chief Executive Officer of DynCorp International, and other strategic partners including Johnson Global Services, LLC, an affiliate of Magic Johnson Enterprises, and Zaccanelli Investment Partners (ZIP).

'We set out, together with Zaccanelli Investment Partners, to create a unique enterprise dedicated to providing high-quality, value-added solutions in support of the U.S. and other governments' defense/logistics and nation building initiatives,' said David P. Storch, Chairman and Chief Executive Officer of AAR CORP. 'We created an organization with an inclusive and diverse base of ownership, leadership and workforce that has a distinctive blend of skills and perspectives that will enhance the new venture's value proposition. I am very pleased to announce the successful launch of AAR Global Solutions and look forward to a bright future with tremendous growth.'

Storch continued, 'The parties are committed to providing high-quality solutions to our U.S. Government and international customers by bringing discipline and solid business practices to meet the unique needs and stringent requirements of this customer base. Our partners contribute an international presence and reputation to our efforts as we build this new company.'

'AAR Global Solutions will open new government and defense markets to AAR as well as strengthen our ability to compete for global government services programs as a prime contractor,' Storch concluded.

'Through this joint venture, we're able to offer customers a solution that combines our team's extensive experience winning and managing large-scale government programs with AAR's diverse and field-proven capabilities,' said Steve Cannon, Chief Executive Officer, AAR Global Solutions, LLC. 'The new AAR Global Solutions team is excited to work with AAR CORP. and our strategic partners to pursue new opportunities to provide world-class, quality services to the U.S. Government and foreign customers.'

'Our strategic investment in AAR Global Solutions reflects my confidence in AAR's reputation as a highly regarded service provider and a dynamic, entrepreneurial company. I am also impressed with the experience of Steve Cannon and his team,' said Earvin 'Magic' Johnson, Chairman and Chief Executive Officer of Magic Johnson Enterprises.