TIMCO Provides Brice Convertible Seating to Luxair and Air Europa
July 30 2004 - 5:41PM
PR Newswire (US)
TIMCO Provides Brice Convertible Seating to Luxair and Air Europa
Brice Work Leads to Winglet Installations GREENSBORO, N.C., July 30
/PRNewswire-FirstCall/ -- TIMCO Aviation Services Inc. (OTC:TMAS)
(BULLETIN BOARD: TMAS) announced that the company's wholly- owned
subsidiary, Brice Manufacturing Company, has completed the
installation of its convertible seat product on Luxair's new Boeing
737-700 aircraft. TIMCO also announced that Brice will deliver
convertible seats to Boeing for line installation on 15 new Air
Europa B737-800s beginning next month. Boeing delivered the Luxair
aircraft directly to TIMCO's MRO facility in Goodyear, Ariz., where
a combined-services contract provided Brice convertible seats and
winglet modifications for a one-stop-shop solution. Carlos Herrera,
vice president and general manager of Brice, said, "TIMCO is a
unique provider of airline support services because it offers a
distinctive range of products. As demonstrated by the Luxair
program, we can combine Brice seating with our MRO and engineering
services divisions to meet dual customer demands under even the
tightest time constraints." In addition to aircraft maintenance and
modification, TIMCO is an FAA Designated Alteration Station (DAS
#5SO) that provides design, engineering and FAA certification
services for its in-house programs and on a contractual basis
directly to OEMs and aircraft owners and operators. 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/ . Luxair is the national airline of the
Grand Duchy of Luxembourg. Today, thanks to its extensive European
network, Luxair provides excellent travel opportunities for both
business and leisure travelers and plays an important part in the
economic development of the Grand Duchy and the neighboring regions
of Saar, Lorraine and Rhineland-Palatinate. Air Europa was founded
in 1986 and is the airline division of Globalia Corporation. Air
Europa's fleet consists of 32 aircraft, all of them latest
generation Boeings. 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, ext.
2521, or http://www.timco.aero/ Web site: http://www.timco.aero/
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