TUCSON, Ariz., Dec. 16, 2003 (PRIMEZONE) -- Renegade Venture (NEV.) Corporation (OTCBB:RDVN) today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, has signed four "B" scheduled maintenance checks with Falcon Air Express. The total value of these maintenance checks will be approximately $250,000. All four checks should be completed and booked during the month of December 2003.
John Sawyer, Renegade and Hamilton President, stated that, "Falcon Air Express is one of our best customers and I'm confident that we can turn all four of these "B" checks around for them this month on-time and on-budget. We are currently negotiating next year's maintenance services and, shortly after the first of the year, I fully expect to be able to confirm contracts totaling roughly $6 million in 2004 scheduled maintenance work for Falcon Air Express."
President of Falcon Air Express, Emilio Dirube, said "Falcon Air Express is based in South Florida, which has a greater concentration of aircraft maintenance facilities than probably anywhere in the United States. The fact that we ferry the great majority of our maintenance work all the way to Tucson, Arizona speaks volumes about how we feel about the quality of service that we receive at Hamilton Aerospace."
About Renegade Venture
Through its Hamilton Aerospace subsidiary, Renegade provides maintenance, repair and overhaul (MRO) services for large passenger jet aircraft to scheduled and charter airlines and aviation leasing companies. Hamilton Aerospace holds a Federal Aviation Administration (FAA) Part 145 Air Agency Certificate, which allows it to perform such services. Hamilton operates from facilities comprising about 21 acres located at Tucson International Airport. These facilities include hangars, workshops and other buildings. Notable Hamilton customers include Jetran International, United Parcel Service, a Boeing Company joint venture, Goodrich Corporation, DHL Worldwide Express, Pegasus Aviation, Ryan International Air, Space World and Falcon Air Express.
Renegade's member website is located at www.renegadeventurecorp.com. The Hamilton Aerospace website is located at www.hamaerotech.com.
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations thereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the airline industry, demand for Hamilton Aerospace's services, competitive pricing pressures, and the availability of necessary financing. In addition, other risks are detailed in Renegade's Form 10-KSB filed on April 15, 2003. These statements speak only as of above date, and Renegade disclaims any intent or obligation to update them.