Airborne Maintenance and Engineering Services (AMES), a subsidiary of Air Transport Services Group (ATSG), has confirmed the acquisition of PEMCO World Air Services, the Tampa, Florida-based MRO specializing in outsourced heavy maintenance aircraft services and passenger-to-freighter aircraft conversions.
Wilmington, Ohio headquartered AMES said no PEMCO debt was assumed from the transaction, which it said will “allow for a number of strategic benefits” through combining operational strengths, expanded capabilities and cost savings related to shared services between the companies.
Both parties now plan to market their combined services to their global customers along with ATSG affiliates.
The services be offered from a number of locations including Wilmington and Tampa for heavy maintenance and modifications, and Tampa, Central America and Asia for passenger-to-freighter conversion work.
“Based on PEMCO’s existing domestic and international scale, this acquisition will expand access to maintenance service for customers of ATSG’s expanding fleet of Boeing 767 cargo aircraft,” said ATSG president and CEO Joe Hete.
“It is consistent with our goal to diversify ATSG’s revenue and earnings, for an investment in the same price range as our planned and completed stakes in cargo airlines in China and Europe.”