Pemco Aeroplex Delivers First P-3 Early
May 01 2006 - 7:30AM
Business Wire
Pemco Aviation Group, Inc. (NASDAQ:PAGI) announced today that the
first U.S. Navy P-3 aircraft inducted under its teaming agreement
with L-3 Communications (NYSE: LLL) has been delivered to the Navy
16 days early. The aircraft has been undergoing phased depot
maintenance at the Pemco Aeroplex facility located in Birmingham,
Alabama as part of L-3 Communications Integrated Systems' contract
on the Navy's Sustainment, Modification and Installation Program.
Glenn Hess, President of Pemco Aeroplex, Inc. stated, "We are very
pleased to be able to redeliver the aircraft to the Navy early. Our
priorities have always been quality, cost and schedule and I
believe we have successfully initiated the P-3 program with
strength in all three areas. Our teaming relationship with L-3
Integrated Systems has been a very positive experience for us and
we look forward to being able to continue to provide L-3 and the
Navy with this type of performance." Pemco Aviation Group, Inc.
(www.pemcoaviationgroup.com), with executive offices in Birmingham,
Alabama, and facilities in Alabama and California, performs
maintenance and modification of aircraft for the U.S. Government
and foreign and domestic commercial customers. The company also
provides aircraft parts, support and engineering services and
develops and manufactures aircraft cargo systems, rocket vehicles
and control systems, and precision components. L-3 IS
(www.l-3is.com) is recognized internationally as a systems
integration organization specializing in the modernization and
maintenance of aircraft of all sizes, and the study, design,
development, and integration of special mission systems for
military and commercial applications. The company has modified more
than 15,000 different aircraft of more than 125 types.
Headquartered in Greenville, Texas, L-3 IS operates from multiple
sites in Texas, Mississippi, Georgia, Kentucky, Oklahoma, Virginia,
Maryland, Alabama, the United Kingdom and Australia. This press
release contains forward-looking statements made in reliance on the
safe harbor provisions of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements may be identified by their use
of words, such as "believe," "expect," "intend" and other words and
terms of similar meaning, in connection with any discussion of the
Company's prospects, financial statements, business, financial
condition, revenues, results of operations or liquidity. Factors
that could affect the Company's forward-looking statements include,
among other things: changes in global or domestic economic
conditions; the loss of one or more of the Company's major
customers; the Company's ability to obtain additional contracts and
perform under existing contracts; the outcome of pending and future
litigation and the costs of defending such litigation; financial
difficulties experienced by the Company's customers; potential
environmental and other liabilities; the inability of the Company
to obtain additional financing; material weaknesses in the
Company's internal control over financial reporting; regulatory
changes that adversely affect the Company's business; loss of key
personnel; and other risks detailed from time to time in the
Company's SEC reports, including its Annual Report on Form 10-K for
the fiscal year ended December 31, 2005. The Company cautions
readers not to place undue reliance on any forward-looking
statements, which speak only as of the date on which they are made.
The Company does not undertake any obligation to update or revise
any forward-looking statements and is not responsible for changes
made to this release by wire services or Internet services.
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