PAMCORPPacific Aircraft Maintenance Corporation
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It will have taken about a year from the first overturned shovel to the gala ribbon-cutting ceremony in August, notes PAMCORP president/CEO Ken Kelley, but putting together the deal that launched the company was a five-year, seven-days-a-week affair.
"The level of cooperation on the PAMCORP deal was incredible," says Kelley.
Among the cast of hundreds in the financial epic, the unsung hero was PacifiCorp's Economic Development Department, says PAMCORP senior vice president David Simon.
"Considering the number of players involved in the transaction," remarks Michael Reinbold, PAMCORP's chairman of the board and CFO, "the amount of diligence was staggering, with each successive player thoroughly reviewing the previous party's body of work." Reinbold adds, however, that the intense scrutiny was also comforting in that the results of each investigation were vastly complimentary.
-- to conduct an independent forecast of PAMCORP's projected operations.
"Amazingly," says Reinbold, "their projections of PAMCORP's net income on a cumulative basis through the first five years of operations was within 2% of our own forecast."
The partners are now developing an aviation maintenance technology center for PCC at PDX to train the highly-skilled work force needed by PAMCORP, Horizon Air, United Express, and others.