-- AAR (AIR) said Wednesday it has signed a multiyear distribution agreement with Woodward (WWD) covering commercial aviation parts.
Financial terms of the partnership were not provided.
The aerospace company said it will act as the preferred distributor for selected Woodward consumable components used in certain aircraft engines, supplying them directly to airlines.
The agreement expands an existing relationship that previously focused on defense, adding commercial aviation distribution through AAR's network, the company said.
Shares of AAR and Woodward were both down more than 1% in Wednesday trading.
Price: $115.11, Change: $-1.43, Percent Change: -1.23%