TAT Wins a New Contract to Provide MRO Services Valued at up to USD 9 Million in Total Revenue for the Years 2018-2019
GEDERA, Israel, June 12, 2018
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
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Ms. Inna Shpringer
SOURCE TAT Technologies Ltd