TAT Technologies Wholly Owned Subsidiary, Limco Airepair Inc. Signed a Five-Year, $7.8 Million Contract with the US Army for Fluid Electric Coolers

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Oct 17, 2011, 04:20 ET

GEDERA, Israel, October 17, 2011 /PRNewswire/ --

TAT Technologies Ltd. (Nasdaq:TATT), a leading provider of services and products to the commercial and military aerospace and ground defense industries, today announced that its wholly-owned subsidiary, Limco Airepair Inc. ("Limco") has signed a five-year, $7.8M' contract with the U.S Army for the building of fluid electric coolers used on the Patriot missile system. This contract may be extended by additional contracts for the providing of MRO services by Limco to the U.S Army.

The business relationship between Limco and the different branches of the U.S. military has existed for several decades, during which Limco has been providing various heat transfer products and services. Limco has been an indirect contractor for the U.S Army's Patriot missile program during the past two decades.

Limco's President, Mr. Paul Hall, commented: "This is a strategic contract for Limco in light of its size and of the potential for further direct cooperation with the U.S Army and other U.S Military branches. The contract is another milestone in a turnaround at Limco and demonstrates its growing reputation. It is the result of ongoing efforts on behalf of Limco for on-time performance and excellent quality of work."

TAT's President and CEO, Dr. Shmuel Fledel, commented: "We are proud of Limco's business and professional relationship with the U.S. Army. Along with TAT's long and successful relations with the U.S military branches, including the U.S Army, this demonstrates TAT's leading position and recognition in the aerospace and defense sectors. It also reflects TAT's strategy to enhance its leading position in these markets while continuously providing products and services of the highest quality."

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 four segments: (i) Original Equipment Manufacturing or "OEM" of Heat Management Solutions (ii) OEM of Electric Motion Systems (iii) Heat Transfer Services and Products and (iv) Maintenance, Repair and Overhaul or "MRO" services of Aviation Components.

TAT's activities in the area of OEM of Heat Management Solutions primarily include the design, development, manufacture and sale of (i) 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) environmental control and cooling systems on board aircraft and for ground applications; and (iii) a variety of other electronic and mechanical aircraft accessories and systems such as pumps, valves, power systems and turbines.

TAT's activities in the area of OEM of Electric Motion Systems primarily include the design, development, manufacture and sale of a broad range of electrical motor applications for airborne and ground systems.

TAT's activities in the area of Heat Transfer Services and Products include the maintenance, repair and overhaul of heat transfer equipment and in a lesser extent, the manufacturing of certain heat transfer products. TAT's Limco subsidiary operates FAA certified repair station, which provides heat transfer MRO services and products for airlines, air cargo carriers, maintenance service centers and the military.

TAT's activities in the area of MRO services for Aviation Components include the maintenance, repair and overhaul of APUs, Landing Gear and other aircraft components. TAT's Piedmont subsidiary operates an FAA certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT also holds approximately 30.3% 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:
Yaron Shalem
CFO
Tel: +972-88628501
[email protected]

SOURCE TAT Technologies Ltd