09-11-2004, 12:41 AM
Aero firm gains spur new hires
By David Wichner
ARIZONA DAILY STAR
Tucson-based Hamilton Aerospace Technologies is accelerating hiring as it continues to land new business.
On Monday, Hamilton announced a $3 million contract to refurbish four former America West Boeing 737 jets for a Pakistani airline.
The work for Shaheen Air International and other recent contracts have boosted hiring plans Hamilton announced earlier this year.
The company had said it would hire 75 to 100 aircraft mechanics to handle new contract work, bringing its payroll to about 200 workers by year's end.
"We're at 200 now, and we're going to need another 50 people by mid-October," said Gordon D. Hamilton, a Hamilton board member. Located at Tucson International Airport, Hamilton Aerospace provides maintenance, repair and overhaul services on large passenger jets for scheduled and charter airlines and aviation leasing companies.
The contract with Shaheen Air involves heavy maintenance checks, painting and other refurbishment work on the 737s.
Hamilton, a wholly owned subsidiary of the publicly traded Renegade Venture Corp., expects to deliver the aircraft by the end of the year.
Founded in 1993, Shaheen Air operates a fleet of six aircraft with more than 30 weekly flights to 10 domestic and international destinations, including Karachi, Islamabad and Peshawar, Pakistan; Dubai, United Arab Emirates, and Kuwait City.
Aamer Ali Sharieff, CEO of Shaheen Air, said in a statement that the airline chose Hamilton for the contract work after airline officials visited the Tucson maintenance center.
Revenue from the latest contract already was factored into Renegade's forecast of about $20 million in revenues and $2 million in net profits for this year, Hamilton said.
For the first half of 2004, Renegade posted $1.6 million in net income on revenues of $8.6 million, compared with a net loss of about $500,000 in the first half of 2003.
"We've been focusing on this slow, steady growth, trying to be careful and making a profit," Hamilton said, noting the company would likely peak at employment of about 350 at TIA.
Hamilton Aerospace was formed after Renegade bought the assets of bankrupt Hamilton Aviation Inc. in 2002.
The company is negotiating a new, multiyear lease with the Tucson Airport Authority, Hamilton said.
In July, Hamilton acquired its neighbor at TIA, aircraft parts broker World Jet Corp., for $1.55 million.
Shares in Renegade, which earlier this year moved its corporate headquarters to Tucson from Denver, rose 2 cents Monday to close at 58 cents in over-the-counter trading.
http//www.dailystar.com/dailystar/business/36670.php
"Allah does not change the state of people unless they change what is within themselves" Quran 1311
By David Wichner
ARIZONA DAILY STAR
Tucson-based Hamilton Aerospace Technologies is accelerating hiring as it continues to land new business.
On Monday, Hamilton announced a $3 million contract to refurbish four former America West Boeing 737 jets for a Pakistani airline.
The work for Shaheen Air International and other recent contracts have boosted hiring plans Hamilton announced earlier this year.
The company had said it would hire 75 to 100 aircraft mechanics to handle new contract work, bringing its payroll to about 200 workers by year's end.
"We're at 200 now, and we're going to need another 50 people by mid-October," said Gordon D. Hamilton, a Hamilton board member. Located at Tucson International Airport, Hamilton Aerospace provides maintenance, repair and overhaul services on large passenger jets for scheduled and charter airlines and aviation leasing companies.
The contract with Shaheen Air involves heavy maintenance checks, painting and other refurbishment work on the 737s.
Hamilton, a wholly owned subsidiary of the publicly traded Renegade Venture Corp., expects to deliver the aircraft by the end of the year.
Founded in 1993, Shaheen Air operates a fleet of six aircraft with more than 30 weekly flights to 10 domestic and international destinations, including Karachi, Islamabad and Peshawar, Pakistan; Dubai, United Arab Emirates, and Kuwait City.
Aamer Ali Sharieff, CEO of Shaheen Air, said in a statement that the airline chose Hamilton for the contract work after airline officials visited the Tucson maintenance center.
Revenue from the latest contract already was factored into Renegade's forecast of about $20 million in revenues and $2 million in net profits for this year, Hamilton said.
For the first half of 2004, Renegade posted $1.6 million in net income on revenues of $8.6 million, compared with a net loss of about $500,000 in the first half of 2003.
"We've been focusing on this slow, steady growth, trying to be careful and making a profit," Hamilton said, noting the company would likely peak at employment of about 350 at TIA.
Hamilton Aerospace was formed after Renegade bought the assets of bankrupt Hamilton Aviation Inc. in 2002.
The company is negotiating a new, multiyear lease with the Tucson Airport Authority, Hamilton said.
In July, Hamilton acquired its neighbor at TIA, aircraft parts broker World Jet Corp., for $1.55 million.
Shares in Renegade, which earlier this year moved its corporate headquarters to Tucson from Denver, rose 2 cents Monday to close at 58 cents in over-the-counter trading.
http//www.dailystar.com/dailystar/business/36670.php
"Allah does not change the state of people unless they change what is within themselves" Quran 1311