Item 2. Properties
ITEM 2 PROPERTIES
Our principal executive office is in Miami, Florida. In addition to our headquarters, we have the following operating locations:
Facility:
Primary Purpose:
·
Goodyear, Arizona
Aircraft MRO, Storage, Modification and Disassembly
·
Roswell, New Mexico
Aircraft MRO, Storage, Disassembly, and Distribution
·
Millington, Tennessee (1)
Aircraft MRO and Disassembly
·
Rio Rancho, New Mexico
Landing Gear MRO
·
Miami, Florida
Corporate Headquarters and Engineered Solutions Operations,
Hydraulic, Pneumatic, PMA Operations, and Electro-Mechanical Component MROs
·
Hialeah Gardens, Florida (2)
USM Sales, Shared Services, and Flight Control Surfaces
·
Memphis, Tennessee (3)
USM Sales, Distribution and Component MRO
·
Dublin, Ireland
Flight Equipment Asset Management
·
Bridgend, United Kingdom
Regional Representative Sales Offices
·
Singapore
Regional Representative Sales Offices
To support our growth and long-term business goals, we have expanded our operational facilities;
(1) In February 2023, we leased 112,000 square feet of hangar space expanding our narrow body on-airport MRO presence. This new facility will provide additional capacity to accommodate the increasing MRO demand. We expect to commence operations in this facility in the first quarter of 2024.
(2) Effective September 1, 2022 we entered into a lease for our Miami structures shop consisting of 88,000 square feet in Hialeah Gardens, Florida, for a term expiring in 2032. This location will also serve as office space for USM sales and shared services personnel. Relocation of office personnel has been completed while the structures shop is expected to conclude during the first half of 2023. Prior to the relocation, USM sales and shared services personnel were located in Sunrise, Florida.
(3) In 2022, we commenced a 10-year lease for a new 315,000 square foot facility in Memphis, Tennessee. We completed shifting production related to our distribution operations from the previous 160,000 square foot location in the fourth quarter of 2022. Effective January 2023, the prior location has been reconditioned and subleased to a third party.
Our Goodyear, Arizona and Roswell, New Mexico facilities are on airport locations at the Phoenix Goodyear Airport and Roswell International Air Center, respectively, and are two of our FAA-authorized repair station operations centers focusing on airframe aircraft maintenance and storage. Combined, they feature over 650,000 square feet of hangar space with a capability of dry desert long-term storage for up to 650 aircraft. In addition to having airframe maintenance service offerings at these facilities, we have four FAA-authorized repair station operations in our Rio Rancho, New
31
Table of Contents
Mexico, Memphis, Tennessee, and Miami, Florida facilities that provide component MRO service offerings. Collectively, these facilities support the operations of our TechOps segment.
We primarily distribute USM parts from our dedicated distribution warehouse located in Memphis, Tennessee, in addition to on-site bulk storage capacity at our Roswell, New Mexico facility. These facilities collectively provide more than 500,000 square feet of available space to efficiently manage our Flight Equipment inventories and facilitate support of our customers’ urgent spare part requirements with non-stop delivery capacity to destinations worldwide. Combined, these facilities support the operations of our Asset Management Solutions segment.
ITEM 3 LEGAL PROCEEDINGS
From time to time, we are subject to litigation incidental to our business. The information set forth under “Litigation” under Note R – Commitments and Contingencies within our Consolidated Financial Statements is incorporated herein by reference.
ITEM 4 MINE SAFETY DISCLOSURES
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.