TAT Technologies’ Wholly Owned Subsidiary, Piedmont Aviation Component Services Signed $11M’ Contract Extension
GEDERA,
Ltd. (Nasdaq: TATT – News), a leading provider of services and products to
the commercial and military aerospace and ground defense industries, today
announced that its wholly-owned subsidiary, Piedmont Aviation Components
Services (“Piedmont”), has renewed its contract with Fokker Services B.V.
(“Fokker”), a leading manufacturer of mid-size aircraft, for the maintenance
of the Honeywell Auxiliary Power Unit (“APU”) 36-50R and APU 36-150RR for the
Fokker 70 and Fokker 100 aircraft. The original contract was signed in
2000
estimated to be in excess of
The contract is a ‘Power By the Hour’ (“PBH”) based maintenance contract
which has proven to be the basis for a successful partnership relationship
between Piedmont and Fokker. The engineering departments of Fokker and
Piedmont have worked intensively through these past years to increase the
reliability of the APU’s.
TAT’s President and CEO, Dr.
current agreement with Fokker demonstrates Piedmont’s leading position in the
maintenance and overhaul industry and its advanced capabilities in supporting
regional and general aviation operators, especially in the US and in
The cooperation with Fokker supports Fokker’s life cycle support program for
its fleet and is aligned with TAT’s strategy to increase volume of services
provided to the commercial aviation industry. We are looking forward to the
continuation of the contract for many years to come.”
About Fokker Services
At present there are more than 600 operational Fokker aircraft across the
world. The Fokker aircraft has earned a reputation for advanced technologies,
comfort, operational reliability, low noise level and durability. Many
consider the Fokker among the best mid-size aircraft ever built. Besides the
Fokker aircraft, Fokker is serving operators of the Bombardier Dash 8 and
other out of production aircraft, with its logistic flight hour program
ABACUS. Fokker is part of Fokker Aerospace Group, which develops and produces
advanced components and systems for the aerospace industry, and supplies
integrated maintenance services and products to aircraft owners and operators.
About TAT Technologies LTD
TAT Technologies LTD is a leading provider of services and products to
the commercial and military aerospace and ground defense industries.
TAT operates under three operational segments: (i) OEM of Heat Transfer
products (ii) OEM of Electric Motion Systems; and (iii) MRO services, each
with the following characteristics:
OEM of Heat Transfer products primarily includes 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.
OEM of Electric Motion Systems primarily includes 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
results in this segment for fiscal year 2008 are not compared with the
previous years.
MRO services include the remanufacture, repair and overhaul of heat
transfer equipment and other aircraft components, APUs, propellers and
landing gear. TAT’s Limco subsidiary operates FAA (Federal Aviation
Administration ) certified repair stations, which provide aircraft component
MRO services for airlines, air cargo carriers, maintenance service centers
and the military.
TAT also holds approximately 37% of the equity of First Aviation
Services, a world-wide distributor of products and services to the aerospace
industry and a one-stop-shop for MRO services (wheels, breaks, propellers and
landing gear) for the General Aviation Industry.
TAT’s executive offices are located in the Re’em Industrial Park, Neta
Boulevard,
972-8-862-8500.
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.
For more information of TAT Technologies, please visit our web-site:
http://www.tat-technologies.com
Contact:
Miri Segal-Scharia Dr. Avi Ortal
MS-IR LLC CEO Limco Piedmont.
Tel: +1-917-607-8654 Tel: +1-336-455-1785
msegal@ms-ir.com avio@lpi.aero
SOURCE TAT Technologies Ltd