Pemco Aviation Announces New Europe Air Post B737-300 Cargo Conversion Program
August 07 2007 - 9:15AM
Business Wire
Pemco Aviation Group, Inc. (NASDAQ: PAGI) announced today that its
Dothan, Alabama subsidiary, Pemco World Air Services, Inc., has
entered into a contract with Europe Airpost, for the conversion of
two (2) B737-300 aircraft from passenger to quick-change (QC),
configuration. In addition, Pemco will be performing heavy
maintenance and paint on both aircraft. Inductions will occur
beginning in August of this year. Europe Airpost, based at Charles
de Gaulle International Airport in Paris, France, is a European
combination carrier providing both passenger and express freight
services with a fleet of 22 aircraft. Kevin Casey, Vice President,
Commercial Business Development said, �We are very pleased to
announce the return of Europe Airpost to our customer list. Our
companies� history of technical cooperation dates back to the early
�90�s when then-L�Aeropostal took delivery of their first of many
737-300QC�s. Today, with their new well capitalized ownership,
their successful and progressive senior leadership and fleet of
modern, well-maintained Pemco-converted 737-300QC and -300F
aircraft, Europe Airpost is well positioned for continued growth
and success. We look forward to partnering with them on this new
program and providing them with the highest possible quality,
service and value for which Pemco is recognized.� Yves Groshenry,
Director of Engineering & Maintenance for Europe Airpost, said,
"We look forward to the delivery of two of Pemco's newest
generation 737-300 QC aircraft. These two modifications are
completely in line with the continuous relationship we have built
with Pemco over the last fifteen years." Pemco Aviation Group,
Inc., 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. 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: the possibility that the sale of Pemco may not close
on the terms described in this release, or at all; 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,
2006. 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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