TAT Technologies Ltd. Announces Exercise of Option to Purchase Additional Shares of Bental
12 March 2009 - 1:45AM
PR Newswire (US)
GEDERA, Israel, March 11 /PRNewswire-FirstCall/ -- TAT Technologies
Ltd. (NASDAQ:TATTF) today announced that its Board of Directors has
approved the exercise of the Company's option to purchase an
additional 18% of the outstanding shares of Bental Industries Ltd.
("Bental") for the amount of approx. USD 2.3 Million, effective no
later than March 31, 2009. The Company currently holds 52% of
Bental, and upon the exercise of the option, the Company will hold
70% of Bental. About TAT Technologies Ltd. TAT Technologies Limited
provides a variety of services and products to the aerospace
industry under three operational segments: (i) OEM products (ii)
MRO services and (iii) parts, each with the following
characteristics: Our OEM activities primarily relate to the
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. We also manufacture and
sell other environmental control and cooling systems and a variety
of other electronic and mechanical aircraft accessories and systems
such as pumps, valves, power systems and turbines. Our MRO services
include the remanufacture, overhaul and repair of heat transfer
equipment and other aircraft components, APUs, propellers and
landing gear. Our Limco-Piedmont subsidiary operates four FAA
certified repair stations, which provide aircraft component MRO
services for airlines, air cargo carriers, maintenance service
centers and the military. Our parts segment focuses on the sale of
APU parts propellers and landing gear. We offer parts services for
commercial, regional and charter airlines and business aircraft
owners. Safe Harbor for Forward-Looking Statements This press
release contains forward-looking statements that are subject to
risks and uncertainties. Factors that could cause actual results to
differ materially from these forward-looking statements include,
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 and Exchange Commission. 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 further information,
please call Mr. Yaron Shalem, the Company CFO, at +972-8-8628503.
DATASOURCE: TAT Technologies Ltd CONTACT: For further information,
please call Mr. Yaron Shalem, the Company CFO, at +972-8-8628503
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