Pemco Aviation Group Announces New Contract For Space Vector

MISSILE DEFENSE

Birmingham AL (SPX) Mar 08, 2005
Space Vector Corporation, California subsidiary to Pemco Aviation Group, has received a contract to build a medium range target vehicle for national missile defense testing.

The contract was received from Lockheed Martin in its capacity as the Targets & Countermeasures Prime Contractor for the Missile Defense Agency.

Space Vector has, for thirty-five years, provided launch vehicles and related subsystems to government and commercial customers, including the U.S. Missile Defense Agency, the U.S. Air Force and NASA.

Michael Tennenbaum, chairman of Pemco Aviation Group, stated, "This contract and other new business will permit Space Vector to triple its California based personnel this year. I am pleased that our California based funds helped Pemco keep Space Vector in business during its lean years."

"We are excited that Space Vector will be supporting our nation's missile defense efforts, significantly growing the business and making a favorable financial contribution to Pemco during 2005," Tennenbaum said.

"We value our relationship with Lockheed Martin very highly, both in the missile defense arena and in military aircraft maintenance programs where Pemco Aeroplex, one of our Alabama companies, has teamed with them on the C-130 UDLM program."

"We are very pleased to once again work with Lockheed Martin on this important program. Space Vector has received several meaningful contracts in the last few months that have re-vitalized the company. "Most notably, we are teamed with two companies which are building a responsive, low cost orbital vehicle which may well prove to be transformational for our business," stated Philip M. Panzera, president of Space Vector.

MISSILE DEFENSE

Test Marks Fifth Successful Intercept for Aegis BMD Team

El Segundo CA (SPX) Mar 07, 2005
The Aegis Ballistic Missile Defense (BMD) Weapon System with the Standard Missile-3 (SM-3) successfully intercepted a ballistic missile target outside the earth's atmosphere during its descent phase of flight test last Thursday.

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