TAT Technologies signs USD 10m MRO contract with major airline

Piedmont Aviation Component Services, a subsidiary of Israel-based TAT Technologies Ltd. (NASDAQ: TATT), has announced it has been awarded a 5-year Landing Gear Maintenance Support contract with a major airline, estimated at up to USD 10M in revenue, the company said.

Out of the USD 10M in revenue, USD 9 million will be recognized during the first two years of the contract, starting from September 2018.

Maintenance work will be done at TAT´s Landing Gear services facility in Greensboro (NC), starting Q3 2018. This 5-years agreement, covers a fleet of Embraer 175 aircraft.

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 are the FIMI Private Equity Funds.