TAT Technologies Announcing the Entry Into a New Manufacturing Contract With Embraer, Empresa Brasileira de Aeronautica S.A.
GEDERA,
Ltd. (Nasdaq: TATTF) today announced that it has been awarded, for the second
time in the past 6 months, 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 Pack Back-Up Heat Exchanger to
be incorporated into the Legacy 450 midlight & Legacy 500 midsize, new
executive jets being developed by Embraer. Earlier this year, TAT was awarded
a contract by Embraer to supply the Pre-cooler Heat Exchanger to the same
program.
Assuming the successful development and marketing of the new aircraft,
TAT anticipates revenues from this new contract in approximately
over a ten year period which should commence some time in 2010. In addition,
it is expected that the product will, in the future, generate significant
additional aftermarket and support revenues. TAT also anticipates incurring
certain developmental expenses over the next two years in connection with the
development of the product. TAT’s anticipated aggregate revenues in its two
programs with Embraer exceed
TAT’s President and CEO, Dr.
contract with the customer is a significant achievement for the company and
demonstrates TAT’s continuing ability to support Embraer with Turn Key
Solutions. This contract furthers TAT’s strategy – to be one of the leading
designers and manufacturer of Heat Transfer solutions and products. This
contract significantly adds to TAT’s market position and enlarges the
relationship between TAT & EMBRAER.”
About the Company
TAT Technologies Ltd. provides a variety of services and products to the
military and commercial aerospace and ground defense industries through its
Gedera facility in
Industries Ltd., in
TAT operates under four operational segments: (i) OEM of Heat Transfer
products (ii) OEM of Electric Motion Systems (iii) MRO services; and (iv)
parts services, each with the following characteristics.
TAT’s activities in the area of OEM of Heat Transfer products 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; and (ii) manufacture and
sale of environmental control and cooling systems and (iii) a variety of
other electronic and mechanical aircraft accessories and systems such as
pumps, valves, power systems and turbines.
TAT’s activities in the area of OEM of Electric Motion Systems primarily
relate to the design, development, manufacture and sale of a broad range of
electrical motor applications for airborne and ground systems. TAT activities
in this segment commenced with the acquisition of Bental in
accordingly, the results in this segment for fiscal year 2008 are not
compared with the previous years.
TAT’s MRO services include the remanufacture, overhaul and repair of heat
transfer equipment and other aircraft components, APUs, propellers and
landing gear. TAT’s Limco subsidiary operates FAA certified repair stations,
which provide aircraft component MRO services for airlines, air cargo
carriers, maintenance service centers and the military.
TAT’s parts segment focuses on inventory management and sale of APU
parts, propellers and landing gear. TAT offers parts services for commercial,
regional and charter airlines and business aircraft owners.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which include,
without limitation, statements regarding possible or assumed future operation
results, synergies, customer benefits, growth opportunities, financial
improvements, expected expense savings and other benefits anticipated from
the merger. These statements are hereby identified as “forward-looking
statements” for purposes of the safe harbor provided by the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
involve risks and uncertainties that could cause our results to differ
materially from management’s current expectations. Actual results and
performance can also be influenced by other risks that we face in running our
operations including, 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 Exchange
Commission, including its registration statement on form F-4, its annual
report on form 20-F and its periodic reports on form 6-K. 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. Stockholders 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.
TAT’s executive offices are located in the Re’em Industrial Park, Neta
Boulevard,
+972-8-862-8500.
SOURCE TAT Technologies Ltd