Printer Friendly


 SAN FRANCISCO, Calif., Oct. 27 /PRNewswire/ -- San Francisco-based PLM International (AMEX: PLM), a diversified transportation equipment leasing company, today announced the signing of a Memorandum of Understanding to purchase a substantial interest in Aeromil Australia Pty Ltd and its associated companies.
 The investment will provide PLM with a platform from which to expand its aviation leasing and marketing operations in Australia, Asia and the Pacific Rim region.
 Sydney-based Aeromil is one of Australia's largest aircraft dealers, specializing in local and international marketing, sales and leasing of a wide range of business and commercial aircraft and helicopters throughout the South-west Pacific region. Aeromil also has extensive operating experience and contacts in Asia. Its other activities include a substantial spare parts division, aviation consultancy, the management and operation of corporate-owned aircraft and contract charter services.
 Aeromil owns a fifty percent interest in Aeromech Pty Ltd, a specialized maintenance operation located at Maroochydore Airport, north of Brisbane in Queensland. Aeromech acts as a support facility of Aeromil's activities and is located at one of Australia's fastest growing airports which is ideally situated to meet Northern Australia's projected growth potential, and to attract clients from Asia and the South-west Pacific.
 Aeromil also owns Austin Aero FBO Ltd, located at Austin, Texas. Its airport complex, which comprises a modern terminal, five hangars and refueling facilities for airline and business aircraft on a 20-acre site, will provide PLM with a base from which to support and market its U.S. based aircraft. This fixed base operation is strategically located between Dallas, Houston and San Antonio, and is also well placed to service the growth markets of Mexico and Central and South America.
 Robert N. Tidball, president and chief executive officer of PLM International, said "Aeromil has worked successfully with PLM on the purchase and leasing of a number of aircraft. We feel Aeromil is ideally suited to promote PLM's aviation leasing and marketing efforts in Australia, Asia and the South Pacific, regions that we feel have excellent potential for long term growth. We are delighted to have established this close and important association with Aeromil, and feel that it will be of long-term mutual and positive benefit to both corporations."
 Steve J. Padgett, chairman and managing director of Aeromil added, "Aeromil's diverse services and marketing expertise make us well qualified to undertake regional responsibility for PLM's fleet of commuter and corporate aircraft, and helicopters."
 PLM International is a transportation equipment leasing company specializing in the management of equipment on operating leases. The company is also the leading sponsor of syndicated investment programs organized to invest primarily in transportation equipment. The company operates and manages an equipment portfolio with an original cost of approximately $1.35 billion for approximately 75,000 investors and its own account. Owned and managed portfolios include aircraft (commercial, commuter, corporate, helicopters and aircraft components), marine vessels, railcars, marine cargo containers, trailers and mobile offshore drilling units.
 -0- 10/27/93
 /CONTACT: Janet Turner, vice president, investor services, 415-905-7214/

CO: PLM International; Aeromil Australia ST: California IN: TRN SU: TNM

CJ-TM -- SF010 -- 7311 10/27/93 12:45 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 27, 1993

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters