Item 1
TAT Technologies
announced it has been awarded a contract by Embraer
Gedera, Israel, April 6, 2009, TAT
Technologies Ltd. (Nasdaq: TATTF)
today announced that it has been awarded a contract
by Embraer, Empresa Brasileira de Aeronáutica S.A., one of the worlds 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.
TATs 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 companys 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 Companys 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.
For Further Information:
Company Contact
Shai Lustgarten, Director Marketing & Business Development
TAT Technologies Ltd.
+972-8-8628504
shai@tat.co.il
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.
|
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TAT TECHNOLOGIES LTD.
(Registrant)
By: /s/ Shmuel Fledel
Shmuel Fledel
Chief Executive Officer
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Date: April 6, 2009
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