PEMCO offers heavy maintenance, repair and overhaul (MRO) services to airlines, and also is a leading provider of passenger-to-freighter conversions on narrowbody aircraft with a focus on 737-300 and 737-400 conversions.
Financial details of the acquisition were not provided, though ATSG said it did not assume any PEMCO debt as part of the transaction.
“This acquisition will allow for a number of strategic benefits through combining operational strengths, expanded capabilities and cost savings related to shared services between the companies,” ATSG said in a statement. In particular, ATSG subsidiary Airborne Maintenance & Engineering Services (AMES) and PEMCO will jointly market MRO services globally.
“The combination of PEMCO’s conversion and MRO sales of both Airbus and Boeing products with AMES’ existing offerings will create a sustained, growth-oriented aircraft maintenance product and services portfolio,” ATSG president and CEO Joe Hete said, adding that “the PEMCO acquisition is expected to be accretive to ATSG’s earnings starting in 2017.”
(Aaron Karp - ATWOnline News)