TAT Technologies Ltd. Signed MOU to Purchase 55% of Bental

GEDERA, Israel, January 3 /PRNewswire-FirstCall/ — TAT Technologies Limited announced today that the company has signed a Memorandum of Understanding to buy 55% of Bental Industries Ltd. (“Bental”).

Since TAT Industries Ltd., the major stockholder of the company already holds 15% of Bental the TAT Group will hold 70% of Bental after closing.

Bental specializes in innovative motion technologies such as PM Brushless Motors, PMGs (Permanent Magnet Generators), Electronic Drivers & Controllers, Servo Actuators and more.

Bental is the leading supplier in its field to Israel’s defense industries. Its products are also supplied to military aerospace and industrial companies worldwide.

   The evaluation of Bental for the transaction is $12,500,000.   The Company will make payments to the sellers as follows:   1) $4,125,000 at closing  

2) $2,750,000 in 5 yearly installments bearing 2% interest. The closing of the transaction is subject to due diligence, the Company’s Board of Directors approval and signing of a detailed agreement.

TAT Technologies is principally engaged in the manufacture, repair and overhaul of heat transfer equipment, such as heat exchangers, precoolers and oil/fuel hydraulic coolers used in aircraft, defense systems, electronic equipment and other applications. In addition, the Company manufactures aircraft accessories and systems such as pumps, valves, Power Systems, Turbines and overhauls aircraft Auxiliary Power Units (APUs), landing gears and propellers.

   Company Contact   Mr. Israel Ofen   Executive Vice-President and Chief Financial Officer   +972-8-859-5411  

TAT Technologies Ltd

CONTACT: Company Contact: Mr. Israel Ofen, Executive Vice-President andChief Financial Officer, +972-8-859-5411