Pemco Aviation Group, Inc. Announces Expansion of its Commercial Division into Tampa, Florida
July 18 2007 - 9:00AM
Business Wire
Pemco Aviation Group, Inc. (NASDAQ: PAGI) announced today that the
Board of the Tampa International Airport Authority has granted
Pemco World Air Services, Inc, Pemco�s commercial division, a
60-day exclusivity period to negotiate an agreement to lease the
former US Airways maintenance hangar at the Tampa International
Airport in Tampa, Florida. When finalized, the company plans to
perform heavy maintenance, required inspections and aircraft
modifications for current and future customers. The 5-bay hangar
contains approximately 150,000 square feet and will provide a
significant growth opportunity for Pemco�s commercial division. .
Pemco anticipates the facility will support over 400 jobs in the
Tampa area by 2009. Ron Aramini, President and Chief Executive
Officer of Pemco stated, �We are extremely pleased to have been
given this opportunity. Tampa International Airport is conveniently
located for our customers and provides a solid partnership
arrangement with the Tampa International Airport Authority which
benefits all involved. We look forward to expanding our business
into Tampa and becoming a good corporate partner in the community.�
About Pemco Aviation Group, Inc. PAGI, with executive offices in
Birmingham, Alabama, and facilities in Alabama and California,
performs maintenance and modification of aircraft for the U.S.
Government and for foreign and domestic commercial customers. The
Company also provides aircraft parts and support and engineering
services, in addition to developing and manufacturing aircraft
cargo systems, rocket vehicles and control systems, and precision
components. For more information go to www.pemcoaviationgroup.com.
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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