Pemco World Air Services announces agreement with Avion Services to acquire the Company

Pemco World Air Services, an industry leader in aircraft MRO and engineered services, announced that it has filed with the Bankruptcy Court for the district of Delaware, an amended and restated Asset Purchase Agreement with Avion Services Holdings, an affiliate of Sun Capital Partners. The Company anticipates that the sale to Avion Services Holdings will be completed before the end of August. The Company also announced that it has agreed with Vision Technologies Aerospace to terminate the Asset Purchase Agreement entered into on May 23, 2012, with VT Aerospace.