The History of UAM
UAM was founded in 1992 as an aircraft asset trading company called Universal Resources, Inc., with only one employee. In August 1993, the company’s name was changed to Universal Asset Management, Inc., and in 1997, UAM relocated its global headquarters to Memphis, Tennessee. In 2001, UAM secured contracts with several key customers, including Continental Airlines, Southwest Airlines, and Omni International Airlines. In 2002, UAM disassembled the first three MD81 aircraft and a DC10-30 for Continental, and secured purchase contracts with Southwest to buy twenty-six B737-200s. The same year, UAM purchased eight former American MD82 Airframes and resold all of them.
Over the next several years, the company expanded to include a greater variety of services and opened an 80,000-square-foot warehouse in Pocahontas, Arkansas. In 2003, UAM opened a 15,840-square-foot disassembly facility in Walnut Ridge, Arkansas, and in November of the same year the first airliner landed at Walnut Ridge for disassembly. Over six hundred people from the community came out to welcome a Boeing B737-200 Test Bed airplane that was purchased directly from Boeing.
In 2007, UAM doubled the size of its previous offices with a move to its current office at 5350 Poplar Avenue in Memphis, Tennessee. In March, UAM opened their first repair facility, Universal Air Repair LLC. Shortly thereafter, in April 2009, UAM acquired a new 40,000-square-foot warehouse facility in Walnut Ridge, Arkansas, to store its growing inventory of airframe and avionic components and to accommodate its rapid growth. UAM also received EASA certification in 2009 to operate an approved repair station with limited accessories ratings. Later in 2009, UAM joined AFRA, Aircraft Fleet Recycling Association, a recognized leading global industry association dedicated to sustainable development in aircraft disassembly.
In 2011, UAM announced plans to move warehouse facilities in Pocahontas and Walnut Ridge, Arkansas, to a larger, 453,600-square-foot warehouse facility in Tupelo, Mississippi, where its warehouse remains today.
2013 was a year of change and transcendence for UAM. In September 2013 Universal Asset Management was purchased by its former Chief Operating Officer, Keri Wright.
After a period of several years of growth, UAM continues to expand with the goal of becoming a beacon of innovation & success in the international aviation industry. In the spring of 2014, UAM and SR Technics signed a General Terms Agreement (GTA) in relation to the set-up of an aircraft component cooperation, enabling the two companies to deliver even more comprehensive services to their customers. As part of its efforts in growth, UAM today continues its hunt to develop strategic alliances, partnerships and opportunities that are in more ways than one, reimagining the aviation industry.