TAT Technologies Announced it has Been Awarded a Contract by Embraer
GEDERA,
(Nasdaq: TATTF) today announced that it has been awarded a contract by
Embraer, Empresa Brasileira de Aeronautica S.A., one of the world’s largest
manufacturers of commercial aircraft to be responsible for the design,
manufacture, integration, testing, supply, and product support for the heat
exchangers to be incorporated into the Legacy 450 midlight & Legacy 500
midsize, new executive jets being developed by Embraer.
Assuming the successful development and marketing of the new aircraft,
TAT Technologies anticipates revenues of approximately
year period which should commence some time in 2010. In addition, if
successful, it is expected that the product will, in the future, generate
significant additional aftermarket and support revenues. TAT Technologies
also anticipates incurring certain developmental expenses over the next two
years in connection with the development of the product.
TAT’s President and CEO, Dr.
contract with the customer is a significant achievement to the company and
part of the aggressive company’s marketing strategy to be one of the leading
companies in the Heat Transfer Technology products.
About TAT Technologies Ltd.
TAT Technologies Limited provides a variety of services and products to
the aerospace industry under three operational segments: (i) OEM products
(ii) MRO services and (iii) parts, each with the following characteristics:
Our OEM activities primarily relate to the (i) design, development,
manufacture and sale of a broad range of heat transfer components (such as
heat exchangers, pre-coolers and oil/fuel hydraulic coolers) used in
mechanical and electronic systems on-board commercial, military and business
aircraft; (ii) manufacture and sell other environmental control and cooling
systems and a variety of other electronic and mechanical aircraft accessories
and systems such as pumps, valves, power systems and turbines; and (iii)
design, development, manufacture and sale of a broad range of electrical
motor applications for airborne and ground systems
Our MRO services include the remanufacture, overhaul and repair of heat
transfer equipment and other aircraft components, APUs, propellers and
landing gear. Our Limco-Piedmont subsidiary operates four FAA certified
repair stations, which provide aircraft component MRO services for airlines,
air cargo carriers, maintenance service centers and the military.
Our parts segment focuses on the sale of APU parts propellers and landing
gear. We offer parts services for commercial, regional and charter airlines
and business aircraft owners.
TAT Technologies has been in business since 1967 and is a supplier of
some of the biggest companies and armed forces in the world (Boeing,
Lockheed-Martin, U.S. Air Force, Navy and Army, NATO, Israeli Air Force,
Cessna, and Teledyne Continental Motors, to name a few).
TAT Technologies, is public company and has been traded on Nasdaq since
1993 and on the
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that are subject
to risks and uncertainties. Factors that could cause actual results to differ
materially from these forward-looking statements include, but are not limited
to, general business conditions in the airline industry, changes in demand
for our services and products, the timing and amount or cancellation of
orders, the price and continuity of supply of component parts used in our
operations, and other risks detailed from time to time in the Company’s
filings with the Securities and Exchange Commission. These documents contain
and identify other important factors that could cause actual results to
differ materially from those contained in our projections or forward-looking
statements. Shareholders and other readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
on which they are made. We undertake no obligation to update publicly or
revise any forward-looking statement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereto duly authorized.
TAT TECHNOLOGIES LTD.
(Registrant)
By: /s/Shmuel Fledel
Shmuel Fledel
Chief Executive Officer
For Further Information:
Company Contact
Shai Lustgarten, Director Marketing & Business Development
TAT Technologies Ltd.
+972-8-8628504
shai@tat.co.il
SOURCE TAT Technologies Ltd