America West Selects Brice Seating
July 30 2004 - 5:35PM
PR Newswire (US)
America West Selects Brice Seating Precedes Renewal of TIMCO Heavy
Maintenance Contract GREENSBORO, N.C., July 30
/PRNewswire-FirstCall/ -- TIMCO Aviation Services, Inc. (OTC:TMAS)
(BULLETIN BOARD: TMAS) announced that America West selected the
company's subsidiary, Brice Manufacturing Company, for its fleet
renewal program. The work scope includes seating for America West's
22 new Airbus A320/A319 aircraft and the possibility of follow-up
work to retrofit a number of aircraft in its current fleet. TIMCO
also has announced the renewal of its multiple-year contract with
America West for the supply of heavy maintenance services for the
carrier's Boeing 737, Boeing 757 and Airbus A319/320 fleets at
TIMCO's Macon, Ga. (TIMCO-MCN), and Lake City, Fla. (TIMCO-LCQ),
facilities. Gil West, president and COO of TIMCO, said, "The
America West program is significant because it marks the first time
a major U.S. carrier has adopted Brice seating products. Coupled
with our existing heavy maintenance contract with America West,
this award reflects TIMCO's strategy to become a one-stop- shop
provider of high-quality support services for the aviation
industry." TIMCO Aviation Services Inc. is among the largest
providers of fully integrated 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. Four locations make TIMCO one of the
largest independent providers of heavy aircraft maintenance MRO
services in North America. Aircraft Interior Design, Inc. and Brice
Manufacturing Company specializes in the refurbishment of aircraft
interior components and the manufacture and sale of PMA parts and
new aircraft seats. TIMCO Engineered Systems, Inc. provides
engineering services to MRO operations and external customers.
TIMCO Engine Center, Inc. refurbishes JT8D engines and performs
on-wing repairs for both JT8D and CFM-56 series engines. Visit
TIMCO online at http://www.timco.aero/ . America West Airlines is a
major U.S. carrier based in Phoenix, from which it serves more
non-stop destinations with greater frequency than any other
carrier. America West has hubs at Phoenix Sky Harbor International
Airport in Phoenix and McCarran International Airport in Las Vegas.
The airline's modern, fuel-efficient fleet consists of Airbus
A320s, Airbus A319s, Boeing 757s and Boeing 737s. The average age
of the America West fleet is approximately 9 years. This press
release contains certain 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, 2003,
its Quarterly Report on Form 10-Q for the quarter ended March 31,
2004, and those identified below, could adversely affect the
Company's ability to obtain these results: the Company's ability to
continue to generate sufficient working capital from operations to
meet its operating requirements and service its indebtedness, the
Company maintaining good working relationships with its vendors and
customers, competitive pricing for the Company's products and
services, the Company's ability to achieve gross margins at which
it can be profitable, including margins on services the Company
performs on a fixed price basis, competition in the aircraft
maintenance, repair and overhaul market, the Company's ability to
attract and retain qualified personnel in its business, utilization
rates for the Company's MR&O facilities, the Company's ability
to integrate future acquisitions, the Company's ability to
effectively manage its business, economic factors which affect the
airline industry generally and thereby affect our business (since
our customer base consists primarily of airlines and freight
carriers), including the amount of aircraft maintenance being
outsourced, the price of jet fuel and the ongoing war on terrorism,
and changes in government regulations. 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: Jack
Arehart, Executive Vice President of TIMCO Aviation Services, Inc.,
+1-336-668-4410, Extension 2521, http://www.timco.aero/ Web site:
http://www.timco.aero/
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