Temas Resources (CSE:TMAS)
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America West Selects Brice Seating
Precedes Renewal of TIMCO Heavy Maintenance Contract
GREENSBORO, N.C., July 30 /PRNewswire-FirstCall/ -- TIMCO Aviation Services,
Inc. (OTC:TMAS) (BULLETIN BOARD: TMAS) announced that America West selected
the company's subsidiary, Brice Manufacturing Company, for its fleet renewal
program. The work scope includes seating for America West's 22 new Airbus
A320/A319 aircraft and the possibility of follow-up work to retrofit a number
of aircraft in its current fleet.
TIMCO also has announced the renewal of its multiple-year contract with America
West for the supply of heavy maintenance services for the carrier's Boeing 737,
Boeing 757 and Airbus A319/320 fleets at TIMCO's Macon, Ga. (TIMCO-MCN), and
Lake City, Fla. (TIMCO-LCQ), facilities.
Gil West, president and COO of TIMCO, said, "The America West program is
significant because it marks the first time a major U.S. carrier has adopted
Brice seating products. Coupled with our existing heavy maintenance contract
with America West, this award reflects TIMCO's strategy to become a one-stop-
shop provider of high-quality support services for the aviation industry."
TIMCO Aviation Services Inc. is among the largest providers of fully integrated
aviation maintenance, repair and overhaul (MRO) services for major commercial
airlines, regional air carriers, aircraft leasing companies, government and
military units, and air cargo carriers. Four locations make TIMCO one of the
largest independent providers of heavy aircraft maintenance MRO services in
North America. Aircraft Interior Design, Inc. and Brice Manufacturing Company
specializes in the refurbishment of aircraft interior components and the
manufacture and sale of PMA parts and new aircraft seats. TIMCO Engineered
Systems, Inc. provides engineering services to MRO operations and external
customers. TIMCO Engine Center, Inc. refurbishes JT8D engines and performs
on-wing repairs for both JT8D and CFM-56 series engines. Visit TIMCO online at
http://www.timco.aero/ .
America West Airlines is a major U.S. carrier based in Phoenix, from which it
serves more non-stop destinations with greater frequency than any other
carrier. America West has hubs at Phoenix Sky Harbor International Airport in
Phoenix and McCarran International Airport in Las Vegas. The airline's modern,
fuel-efficient fleet consists of Airbus A320s, Airbus A319s, Boeing 757s and
Boeing 737s. The average age of the America West fleet is approximately 9
years.
This press release contains certain forward-looking statements. Forward-
looking statements involve known and unknown risks and uncertainties, which may
cause the Company's actual results in future periods to differ materially from
forecasted results. A number of factors, including those identified in the
Company's Annual Report on Form 10-K for the year ended December 31, 2003, its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2004, and those
identified below, could adversely affect the Company's ability to obtain these
results: the Company's ability to continue to generate sufficient working
capital from operations to meet its operating requirements and service its
indebtedness, the Company maintaining good working relationships with its
vendors and customers, competitive pricing for the Company's products and
services, the Company's ability to achieve gross margins at which it can be
profitable, including margins on services the Company performs on a fixed price
basis, competition in the aircraft maintenance, repair and overhaul market, the
Company's ability to attract and retain qualified personnel in its business,
utilization rates for the Company's MR&O facilities, the Company's ability to
integrate future acquisitions, the Company's ability to effectively manage its
business, economic factors which affect the airline industry generally and
thereby affect our business (since our customer base consists primarily of
airlines and freight carriers), including the amount of aircraft maintenance
being outsourced, the price of jet fuel and the ongoing war on terrorism, and
changes in government regulations. Copies of the Company's filings with the
U.S. Securities and Exchange Commission are available from the SEC or may be
obtained upon request from the Company. The Company does not undertake any
obligation to update the information contained herein, which speaks only as of
this date.
DATASOURCE: TIMCO Aviation Services, Inc.
CONTACT: Jack Arehart, Executive Vice President of TIMCO Aviation
Services, Inc., +1-336-668-4410, Extension 2521, http://www.timco.aero/
Web site: http://www.timco.aero/