TUCSON, Ariz., Oct. 28, 2002 (PRIMEZONE) -- Renegade Venture (NEV.) Corporation, a public Nevada corporation (OTCBB:RDVN) today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, has signed a contract with the Goodrich Aerostructures Group of Goodrich Corporation (NYSE:GR), for the overhaul and maintenance of one of its Boeing 727 aircraft.
Goodrich is a leading worldwide supplier of aerospace components, systems and services, and one of the very largest aerospace companies in the world. Their annual revenues are $4.2 billion, and they employ over 18,000 people in 133 facilities across 20 countries.
Ian Herman, Chairman and Chief executive of Renegade Venture said, "This agreement once again demonstrates that major aerospace corporations are sold on our expertise to carry out cost-effective high-technology aircraft maintenance". Mr. Herman continued: "We anticipate that following successful completion of this contract that this will lead to increased business with Goodrich".
About Hamilton Aerospace Technologies
Hamilton provides maintenance, engineering and modifications for large passenger jet aircraft. Clients include scheduled and charter airlines, aviation leasing companies and government entities. The Federal Aviation Administration (FAA) on May 6, 2002, awarded Hamilton its own Part 145 Air Agency Certificate, which allows it to perform such services. Hamilton operates from leased facilities comprising about 21 acres located at the Tucson International Airport. These facilities include hangars, workshops and other buildings.
Except for the historical information presented herein, the matters set forth in this press release are 'forward-looking statements' within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995, or by the Securities and Exchange Commission in its rules, regulations, and releases. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks include the economic health of the airline industry and concomitant demand for Hamilton Aerospace's services, competitive pricing pressures for Hamilton Aerospace's services, and the availability of financing to complete management's plans and objectives. In addition, other risks are detailed in Renegade's current report on Form 8-K filed on May 9, 2002. These forward-looking statements speak only as of the date hereof. Renegade disclaims any intent or obligation to update these forward-looking statements.
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