Boeing Sends First KC-135 to Pemco Under New Agreement.Business Editors ST. LOUIS & BIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--June 26, 2001 The Boeing Company and Pemco Aviation Group Inc. (Nasdaq:PAGI) today kicked off an innovative aircraft-maintenance agreement with delivery of a U.S. Air Force KC-135 refueling aircraft to Pemco's Birmingham, Ala. facility. The agreement provides additional KC-135 maintenance capacity that will be needed in the future to augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: the Boeing Aerospace Support Center in San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. and the Air Force's Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm Air Logistics Center. "We are beginning a key strategic relationship that benefits all parties, especially the Air Force users," said Glenn Hess, vice president and general manager of the Boeing Aerospace Support Center. "Boeing and Pemco will demonstrate the teaming efforts by sharing techniques and capitalizing on each other's strengths. We look forward to exercising this relationship during the next several years to support the Air Force's KC-135 fleet." Ron Aramini, president and chief executive officer of Pemco Aviation Group, added, "We are excited about the opportunity to work so closely with Boeing. With our extensive experience working on the KC-135, our dedicated workforce and the ability to produce a quality product at the right price for the marketplace, we believe this will be a win-win for all parties. Boeing is a great company and we look forward to a long term relationship with them." During the next few months the companies will work under an interim agreement involving two KC-135s to ensure smooth processing. The companies expect they will sign a contract by the end of September that extends their relationship for six years. Terms of the agreements are not being disclosed. At Boeing, the KC-135 work is part of its Military Aerospace Support business. With that business, Boeing is the only major airframe manufacturer with an integrated organization structured to provide total life-cycle customer support for military aircraft and weapons systems. Pemco now has a contract with the Air Force for comprehensive KC-135 maintenance, which expires at the end of September. Pemco employees in Birmingham have substantial experience with large Air Force aircraft, having repaired more than 5,000 KC-135s and C-130 cargo planes cargo plane n → avión m de carga cargo plane n → avion-cargo m cargo plane cargo n → during past thirty years. On average, those employees have 25 years experience with the KC-135. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined by federal securities laws. Such forward-looking statements are subject to risks and uncertainties that might cause actual results to significantly differ from those foreseen fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. , including Pemco's ability to obtain additional contracts and perform under existing contracts, the outcome of pending or future litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and other risks detailed from time to time in Pemco's SEC reports, including the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed on April 2, 2001. Pemco undertakes no obligation to revise these statements following the date of this press release. |
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