StandardAero ’s Cincinnati, Ohio components business was designated and received its activation and approvals as a Foreign Trade Zone.
McKinsey & Co. and Lufthansa Technik AG in a joint venture will offer consulting services for the optimization of complex processes and the operative implementation of transformation programs. Subject to the approval of anti-trust authorities, the JV is scheduled to begin work during the first half of 2013.
Saab earned SEK1.54 billion ($238.9 million) net income in 2012, down 30.6% year-over-year, on a 2% increase in sales to SEK24.0 billion. It said it anticipates sales to slightly increase in the coming year.
AAR Corp. reported $18.4 million net income, down 10.7% year over year, in its fiscal year third quarter on a 2.6% decrease in consolidated sales to $520.2 million. Its aviation services segment sales increased 9% to $408.2 million.