TIMCO Wins U.S. Coast Guard Contract
October 05 2005 - 3:02PM
PR Newswire (US)
Lake City, FL, Facility Will Perform Heavy Maintenance on C-130s
GREENSBORO, N.C., Oct. 5 /PRNewswire-FirstCall/ -- TIMCO Aviation
Services, Inc. (OTC:TMAS) (BULLETIN BOARD: TMAS) today announced
that it has been awarded a contract to perform heavy maintenance on
U.S. Coast Guard C-130 aircraft at its Lake City, FL, facility. The
contract could potentially involve as many as eight aircraft. Gil
West, the company's President and Chief Operating Officer, stated:
"This contract is an important step forward in our goal of becoming
a leading MRO provider for the U.S. military. Our Lake City
facility, which historically performed a substantial amount of MRO
services for the U.S. military, has performed heavy maintenance
services on more than 2,000 C-130 aircraft over the past 30 years.
We look forward to establishing a strong ongoing relationship with
the U.S. Coast Guard and expanding our military business in the
future." West continued: "As part of our agreement, we will begin
conducting PDMs (known as Progressive Structural Inspections by the
U.S. Coast Guard) on the Coast Guard aircraft later this month, and
this contract may potentially be expanded to include center wing
box inspections and/or refurbishment. We believe that TIMCO is one
of a very few MRO providers that still has the tooling and
experience to refurbish C-130 center wing boxes, having previously
overhauled 125 center wing boxes for the U.S. Air Force at our Lake
City facility." TIMCO's Lake City facility has 600,000 square feet
of enclosed hangar space, including six maintenance hangars and a
two-bay, 65,000-square-foot strip and paint hangar. The FAA, EASA
and U.S. Air Force approved Class IV facility has extensive
backshop support and offers 1.3 million square feet of ramp space.
TIMCO Aviation Services, Inc. is among the world's largest
independent providers of aviation maintenance, repair and overhaul
(MRO) services for major commercial airlines, regional air
carriers, aircraft leasing companies, government and military units
and air cargo carriers. The Company currently operates four MRO
businesses: Triad International Maintenance Corporation (known as
TIMCO), which, with its four active locations (Greensboro, NC;
Macon, GA; Lake City, FL and Goodyear, AZ), is one of the largest
independent providers of heavy aircraft maintenance services in the
world and also provides aircraft storage and line maintenance
services; Brice Manufacturing, which specializes in the manufacture
and sale of new aircraft seats and aftermarket parts and in the
refurbishment of aircraft interior components; TIMCO Engineered
Systems, which provides engineering services both to our MRO
operations and our customers; and TIMCO Engine Center, which
refurbishes JT8D engines and performs on-wing repairs for both JT8D
and CFM56 series engines. Visit TIMCO online at
http://www.timco.aero/. This press release contains forward-looking
statements. Forward-looking statements involve known and unknown
risks and uncertainties, which may cause the Company's actual
results in future periods to differ materially from forecasted
results. A number of factors, including those identified in the
Company's Annual Report on Form 10-K for the year ended December
31, 2004 and its Quarterly Report on Form 10-Q for the quarter
ended June 30, 2005, could adversely affect the Company's ability
to obtain these results. Copies of the Company's filings with the
U.S. Securities and Exchange Commission are available from the SEC
or may be obtained upon request from the Company. The Company does
not undertake any obligation to update the information contained
herein, which speaks only as of this date. DATASOURCE: TIMCO
Aviation Services, Inc. CONTACT: Roy T. Rimmer, Jr, Chairman and
Chief Executive Officer, or Gil West, President and Chief Operating
Officer, or Jack Arehart, Senior Vice President, Business
Development, all of TIMCO Aviation Services, Inc., +1-336-688-4410
Web site: http://www.timco.aero/
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