Business
TAT Technologies Signs a New Agreement With One of the Leading European System Manufacturers for the Aerospace Industry Valued at Up To USD 20 Million in Total Revenue for the Years 2019-2023
GEDERA, Israel, April 15, 2019 /PRNewswire/ -- TAT Technologies Ltd. (NASDAQ: TATT) ("the Company"), a leading provider of services and products to the
About this update from Tat Technologies Ltd.
[{"type":"text","content":"GEDERA, Israel, April 15, 2019 /PRNewswire/ -- TAT Technologies Ltd. (NASDAQ: TATT) (\"the Company\"), a leading provider of services and products to the commercial and military aerospace and ground defense systems, today announced that it has signed a five (5) year agreement with a leading European system manufacturer for the Aerospace industry for the supply of heat exchangers. The expected revenues from this contract is US$20 million for the years 2019-2023. Under this agreement, TAT will be the exclusive heat exchanger provider for these specific products. \nMr. Igal Zamir, CEO and President of TAT Technologies stated, \"We are pleased with the renewal of this partnership which will enable us to increase sales in the heat exchanger OEM segment and is aligned with our growth plans for 2019-20.\" \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 aircraft accessories and systems such as pumps, valves, and turbine power units.\nTAT's activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT's Limco subsidiary operates an F...