October 17, 2011
TAT Technologies Ltd. (Nasdaq:TATT), a leading provider of services and products to the commercial and military aerospace and ground defense industries, today announced that its wholly-owned subsidiary, Limco Airepair Inc. ("
") has signed a five-year, $7.8M' contract with the U.S Army for the building of fluid electric coolers used on the Patriot missile system. This contract may be extended by additional contracts for the providing of MRO services by Limco to the U.S Army.
The business relationship between Limco and the different branches of the U.S. military has existed for several decades, during which Limco has been providing various heat transfer products and services. Limco has been an indirect contractor for the U.S Army's Patriot missile program during the past two decades.
Limco's President, Mr.
, commented: "This is a strategic contract for Limco in light of its size and of the potential for further direct cooperation with the U.S Army and other U.S Military branches. The contract is another milestone in a turnaround at Limco and demonstrates its growing reputation. It is the result of ongoing efforts on behalf of Limco for on-time performance and excellent quality of work."
TAT's President and CEO, Dr.
, commented: "We are proud of Limco's business and professional relationship with the U.S. Army. Along with TAT's long and successful relations with the U.S military branches, including the U.S Army, this demonstrates TAT's leading position and recognition in the aerospace and defense sectors. It also reflects TAT's strategy to enhance its leading position in these markets while continuously providing products and services of the highest quality."
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.