AAR buys Summa Technology

Illinois-based company previously purchased Brown International

AAR Corp., a Wood Dale, Ill.-based company that provides products and services to the aerospace and defense industries, has completed the purchase of Summa Technology Inc., the second Huntsville company AAR acquired this year.

The purchase price was $65 million.

"We are excited about this strategic combination, which further strengthens AAR's competitive position in the market for aerospace and defense products and services," David P. Storch, AAR's chairman and chief executive officer, said in a statement.

Summa manufactures precision-machined parts, robotic and mechanical systems and other subsystems for military, aerospace, defense, automotive and industrial customers. As of September, the company had 243 employees in Huntsville, 159 in Cullman and 58 in Lebanon, Ky.

An aerospace contract team headed by the Boeing Co. in Huntsville was selected this summer by NASA to build the upper stage for the space agency's next rocket - the Ares I. Summa is among Boeing's suppliers.

Summa provides a way for AAR to grow its machining and heavy fabrication business, according to the AAR statement. Summa will operate as a part of AAR's Structures and Systems segment, under the name AAR Summa Technology, said AAR spokesman Derek Sheedy. It will be led by its current chief operating officer, Stephen Werner.

Summa had revenue of about $61 million last year, with 35 percent growth expected this year. The company was founded in 1987 by E.C. "Pony" Lee.

AAR also acquired Huntsville-based Brown International Corp. this year, which also operates as part of AAR's Structures and Systems segment.

AAR has about 4,500 employees at more than 40 locations around the world. Revenue reached $1.06 billion for the fiscal year that ended May 31, 2007.