TAT Technologies Wholly Owned Subsidiary, Piedmont Aviation Component Services Has Expanded its APU Authorized Repair Center Agreement With Honeywell International
GEDERA, Israel, July 20, 2010 /PRNewswire-FirstCall/ -- TAT Technologies 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 Component Services ("Piedmont"), has expanded its APU Authorized Repair Center Agreement with Honeywell International Inc. ("Honeywell") to add another type of APU ( Auxiliary Power Unit - a small gas turbine engine), the GTCP-331-200/250, to the existing GTCP85 Series and the GTCP36 Series APUs.
Mr. Mike Madsen, Honeywell Vice President Airlines Business Segment Air Transport & Regional said: "We are pleased to extend our longstanding relationship with Piedmont. Piedmont's extensive MRO capability, use of genuine Honeywell material and access to Honeywell support, will ensure Honeywell's APU's provide peak performance and reliability for our airline Customers."
TAT's President and CEO, Dr. Shmuel Fledel, commented on the expansion of the Authorized Repair Center Agreement: "We are proud of the solid relationship between Honeywell and TAT Technologies in general and Piedmont in particular. For the last 15 years we've been a successful Authorized Repair Center of Honeywell and the addition of another APU model demonstrates the high level of confidence and cooperation between the two companies. The inclusion of the new APU further reinforces TAT's leading position in the APU maintenance industry."
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 August 2008 and accordingly, the 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, Bnei Ayish, Gedera 70750, Israel, and TAT's telephone number is 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. 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 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 MS-IR LLC Tel: +1-917-607-8654 firstname.lastname@example.org Dr. Avi Ortal CEO Limco Piedmont. Tel: +1-336-455-1785 email@example.com
SOURCE TAT Technologies Ltd