Business
TAT Technologies Ltd., through its Oklahoma subsidiary -Limco Airpair Inc., signed a unique contract to serve a Boeing747 fleet of one of Europe's Major Cargo Carriers
The contract is for the repair of Boeing 747 Thermal Component, valued at $7.5 million. TAT won this contract due to its unique capability to repair this
About this update from Tat Technologies Ltd.
[{"type":"text","content":"The contract is for the repair of Boeing 747 Thermal Component, valued at $7.5 million.\nTAT won this contract due to its unique capability to repair this component.\nNETANYA, Israel, Aug. 16, 2023 /PRNewswire/ -- TAT Technologies (Nasdaq TATT) a leading supplier of OEM products and MRO services for the defense and commercial aviation industry, announced today the signing of a new contract for the repair of Boeing 747 Thermal component being used by a fleet of a major European Cargo carrier. The contract is valued at $7.5 million.\nMr. Zamir CEO and President of TAT Technologies said:\" We won this contract due to our unique capabilities to serve this component under FAA and Easa certification. This unique component capability is one of appx. 300 different heat exchange, precoolers, condensers and thermal components for which we provide MRO (Maintenance Repair and Overhaul) services to airlines around the world.\"\nMr. Zamir added:\" this contract will start generating revenues and profits in Q3/2023 and for the coming years. It represents another demonstration of how we execute our strategy to focus on large MRO contracts with long-term customers. \"\nAbout TAT Technologies LTD\nTAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original equipment manufacturing (\"OEM\") of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund.\nTAT's activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in and ground applications; and (iii) a variety of other mechanical a...