TAT Wins a New Contract to Provide MRO Services Valued at up to USD 9 Million in Total Revenue for the Years 2018-2019

TAT Wins a New Contract to Provide MRO Services Valued at up to USD 9 Million in Total Revenue for the Years 2018-2019

PR Newswire

GEDERA, Israel, June 12, 2018 /PRNewswire/ -- TAT Technologies Ltd. (NASDAQ: TATT), a leading provider of services and products to the commercial and military aerospace and ground defense systems, today announced that its subsidiary, Limco Airepair, Inc. ("Limco") has signed a new contract to provide military MRO services for heat exchangers valued at up to USD 9 Million in total revenue. Revenues from this contract are expected to be recognized during fiscal years 2018 and 2019.

Mr. Igal Zamir, CEO and President of TAT Technologies stated, "This is the second military MRO contract that we have won in the past 6 months. The agreement strengthens TAT's position as a world leader in the military MRO services aligned with our long term strategy. This agreement also strengthens our revenue visibility for 2018 which, as previously announced, is expected to be similar to our revenues in 2017."

About TAT Technologies LTD

TAT Technologies is a global OEM and aftermarket solutions company, employing more than 600 employees globally. TAT Technologies supports commercial aviation and government customers through two operating segments: Thermal Management Solutions and Power & Actuation. TAT's Thermal Management Solutions include OEM and aftermarket of thermal management components and systems. TAT's Power & Actuation include aftermarket support (MRO) of APU, Landing Gear and Aero-engines components. TAT Technologies controlling shareholders is FIMI Private Equity Fund. For more information, you are welcome to visit our website: www.tat-technologies.com

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, the change of control that will occur on the sale by the receiver of the Company's shares held by our previously controlling stockholders, 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.

CONTACT:
Ms. Inna Shpringer
MARCOM Manager
Tel: +972-8-862-8594
innas@tat-technologies.com

 

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SOURCE TAT Technologies Ltd