Sun-Backed Pemco Adds On

Pemco World Air Services, a Dothan, Ala.-based provider of aircraft MRO services, has agreed to acquire the 757 cargo conversion operations and assets of Alcoa-SIE Conversions LLC. No financial terms were disclosed. Pemco World is a portfolio company of Sun Capital Partners.

PRESS RELEASE

Pemco World Air Services (“Pemco”) today announced that it has reached an agreement to acquire the 757 cargo conversion operations and assets of Alcoa-SIE Conversions LLC (ASCC). Under the agreement, Pemco will acquire key assets of ASCC including its Boeing 757-200 Supplemental Type Certificate, which is the regulatory authority under which ASCC is permitted to retrofit passenger-configured 757s for subsequent use as freighters. Financial terms were not disclosed.

“We are pleased to see the highly efficient conversion design that ASCC has pioneered incorporated into the product line of one of the world’s most experienced cargo conversion companies in Pemco”

Upon the full implementation of the agreement in early 2010, the 757 conversion program will be sold, installed, and supported as a Pemco product. “We are delighted to add the 757 program to our conversion product line,” said Pemco CEO Wake Smith. Pemco President Kevin Casey added, “Along with our freighter, combi, and quick-change configurations of the 737-300 and 737-400, the 757 freighter will round out the product portfolio in the Pemco family of narrowbody cargo aircraft options.”

Pemco will couple its market leading narrowbody conversion technology and seamless after-sale support with ASCC’s effective product design to offer a truly compelling 757 cargo program. “We are pleased to see the highly efficient conversion design that ASCC has pioneered incorporated into the product line of one of the world’s most experienced cargo conversion companies in Pemco,” noted ASCC President Robert Murphy.

Pemco, with operations in Dothan, Alabama, Tampa, Florida and partner operations in Asia, is a leading provider of aircraft MRO services and has performed more than 300 cargo conversions on 24 different aircraft platforms over 40 years.