TAT Technologies Reports a Partnership with Lufthansa Technik Shenzhen
TAT Technologies Ltd. (NASDAQ: TATT) has announced a partnership with Lufthansa Technik Shenzhen to establish a leading Maintenance, Repair and Overhaul (MRO) facility for aircraft heat transfer components in China. This facility aims to support the Asia Pacific region and enhance TAT's global presence and customer service capabilities. CEO Igal Zamir emphasized that this collaboration is part of the strategy to grow revenues. The partnership seeks to deliver high-quality, cost-efficient solutions to customers in a rapidly growing market.
- Establishment of a new MRO facility in China to support the Asia Pacific region.
- Partnership with Lufthansa Technik enhances TAT's global presence and service capabilities.
- Alignment with strategic goals to improve customer service and increase revenues.
- None.
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 facility in China for Maintenance, Repair and Overhaul (MRO) of aircraft heat transfer components. The facility will support operators in the Asia Pacific region. In the interim, the companies have begun supporting operators in China through TAT Technologies.
TAT Technologies is one of the industry's largest and leading players in thermal components MRO. Lufthansa Technik is the industry largest maintenance organization. With the partnership, the companies aim to establish a leading position in China and are looking forward to starting the new venture. Igal Zamir, CEO and President of TAT Technologies, stated, "We are pleased to partner with a leading MRO supplier in this fast-growing region. This cooperation is part of our strategy to increase our global presence, improve customer service and grow revenues."
Benjamin Scheidel, President and CEO of Lufthansa Technik Shenzhen, highlighted "the importance of this partnership is to provide customers with world class quality and cost efficient 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 under four segments: (i) Original equipment manufacturing ("OEM") of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund.
TAT's activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic 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 and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.
TAT's activities in the area of MRO 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 manufacturing of certain heat transfer solutions. TAT's Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services 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 MRO of APUs, landing gears 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's activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps.
For more information of TAT Technologies Ltd., please visit our web-site:
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:
Mr. Ehud Ben-Yair
Chief Financial Officer
Tel: 972-8-862-8503
ehudb@tat-technologies.com
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SOURCE TAT Technologies Ltd.
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