A power by the hour contract for auxiliary power unit was extended through May 2017.
TAT Technologies Ltd. (Nasdaq:TATT; TASE:TATTF) wholly-owned US subsidiary Piedmont Aviation Components Services Inc. has renewed its contract with Dutch Fokker Services BV for the maintenance of the Honeywell auxiliary power unit for Fokker 70 and Fokker 100 aircraft until May 2018. TAT estimates the value of the seven-year extension at over $11 million.
The 'Power By the Hour' maintenance contract has underpinned the successful partnership relationship between Piedmont and Fokker. The engineering departments of Fokker and Piedmont have worked intensively through these past years to increase the reliability of the auxiliary power units.
TAT chairman Giora Inbar said, "TAT has many relative advantages in its markets. Contracts of this kind strengthen its position with current and potential customers.
Roni Elroyi-controlled KMN Holdings (Mendelson Group) Ltd. (TASE:KMNH), subsidiary Isal Amlat Investment Ltd. (TASE:ISAL) controls TAT Technologies directly and through TAT Industries Ltd. (TASE:TAT). TAT Industries' share was unchanged at the opening on Nasdaq today at $7.80, giving a market cap of $69 million. The share price rose 2.3% on the TASE today to NIS 29.68.
Published by Globes [online], Israel business news - www.globes-online.com - on April 26, 2010
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