TAT Technologies announces partnership with Lufthansa Technik Shenzhen
GEDERA, Israel, May 19, 2021 / PRNewswire / – TAT Technologies Ltd. (NASDAQ: TATT) is pleased to announce a partnership with Lufthansa Technik Shenzhen to establish a leading repair center in China for the maintenance, repair and overhaul (MRO) of aircraft heat transfer components. The facility will support operators in the Asia Pacific Region. In the meantime, companies have started to support operators China via TAT Technologies.
TAT Technologies is one of the largest and most important industry players in the field of thermal MRO components. Lufthansa Technik is the largest maintenance organization in the industry. With this partnership, the companies aim to establish a leading position in China and we are looking forward to start the new business. Igal Zamir, CEO and President of TAT Technologies, said, âWe are delighted to partner with a leading MRO provider in this fast growing region. This cooperation is part of our strategy to increase our global presence, improve customer service and increase our revenues.
Benjamin Scheidel, President and CEO of Lufthansa Technik Shenzhen, stressed that âthe importance of this partnership is to provide customers with world-class quality and cost-effective solutions in the Asia Pacific growth region. “
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 in four segments: (i) the original equipment manufacturing (âOEMâ) of heat transfer solutions and aviation accessories through its plant in Gedera; (ii) MRO services for heat transfer and OEM components of heat transfer solutions through its subsidiary Limco; (iii) MRO services for aeronautical components via its Piedmont subsidiary; and (iv) Overhaul and coating of reactor components through its subsidiary Turbochrome. The controlling shareholders of TAT are the FIMI Private Equity Fund.
TAT’s activities in the field of OEMs of heat transfer solutions and aircraft accessories mainly include the design, development and manufacture of (i) wide range of heat transfer solutions, such as heat exchangers of hydraulic oil / fuel pre-coolers and heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in ground applications; and (iii) a variety of other aircraft mechanical accessories and systems such as pumps, valves and turbine powertrains.
TAT’s activities in the area of ââMRO services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent the manufacture of certain heat transfer solutions. . TAT’s Limco subsidiary operates an FAA certified repair station, which provides MRO heat transfer services for airlines, air cargo carriers, maintenance service centers and the military.
TAT’s activities in the area of ââMRO services for aeronautical components include the MRO of APUs, landing gear and other aircraft components. TAT’s Piedmont subsidiary operates an FAA certified repair station, which provides aircraft component MRO services to airlines, air cargo carriers, maintenance service centers and the military.
TAT’s activities in the overhaul and coating of jet engine components include the overhaul and coating of jet engine components, including turbine blades and vanes, fan blades, guide vanes variable intake and afterburner flaps.
For more information about TAT Technologies Ltd., please visit our website:
Safe Harbor for forward-looking statements
This press release contains forward-looking statements which include, without limitation, statements regarding possible or suspected future operating results. These statements are hereby identified as “forward-looking statements” for the safe harbor purposes of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties which could cause our results to differ materially. current management expectations. . Actual results and performance may also be influenced by other risks we face in the conduct of our operations, including, but not limited to, general business conditions in the airline industry, changes in the demand for our services and products, the timing and amount or cancellation of orders, the price and continuity of supply of the components used in our operations, the change of control that will occur during the sale by the escrow of Company shares held by our previously controlling shareholders, and other risks detailed from time to time in the Documents filed by the Company with the Securities Exchange Commission, including its annual report on Form 20-F and its reports periodicals 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. Shareholders 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 assume no obligation to publicly update or revise any forward-looking statement.
Mr. Ehud Ben-Yair
SOURCE TAT Technologies Ltd.