TAT Technologies Announced it has Been Awarded a Contract by Embraer
06 Aprile 2009 - 7:37PM
PR Newswire (US)
GEDERA, Israel, April 6 /PRNewswire-FirstCall/ -- TAT Technologies
Ltd. (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 $20 million over
a ten 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. Shmuel
Fledel, remarked that the signed 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 Tel Aviv stock exchange
since 1982. 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 DATASOURCE: TAT Technologies Ltd CONTACT: For
Further Information: Company Contact: Shai Lustgarten, Director
Marketing & Business Development, TAT Technologies Ltd.,
+972-8-8628504
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