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POMPANO BEACH, Fla., July 29, 2019 (GLOBE NEWSWIRE) -- Alaris Aerospace Systems, LLC (Alaris), a leading aircraft parts distributor and asset manager with a global footprint serving more than 300 airlines, has been growing at 30% since its inception in 2009 and hit $78 million in sales in 2018. The company capped of its 2019 first and second quarter with $38 million in sales, which represents a 7% growth on a year to date basis. The company is projected to reach $90 million by year-end, representing a 15% year over year growth.
“Several of our teardown contracts this year have been just completed at the end of Q2, creating a strong momentum going into Q3 and Q4. This is in addition to our pipeline for the rest of the year and has positioned us well for our year end projection,” said Ramnik Soni, COO/CFO of Alaris.
Headquartered in South Florida, Alaris serves an extensive network of national flag carriers, low cost operators, cargo carriers, charter operators and major MROs around the world. Alaris specializes in the aftermarket distribution of parts, primarily those associated with Airbus, Boeing, Embraer and ATR fleets.
The first two quarters of 2019 were highlighted with completion of five airframe teardowns, contracts at ecube UK with the repair/ overhaul and sale of removed parts to be managed by Alaris from its headquarters in South Florida (as below):
“We have transformed the business from our humble asset-light beginnings in 2009 to now being a leading supplier of used and serviceable material from current and new generations of Airbus, Boeing and Embraer aircraft,” said Bikram Jaswal, President of Alaris Aerospace Systems. “Our distribution channels and operations have expanded from a small warehouse in South Florida to Central Florida, Antwerp, Dubai, New Delhi and Kuala Lumpur.”
Nidhi Soni, email@example.com