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TAT to repair APUs on the Carrier's Boeing 757 and 767 aircraft NETANYA, Israel , Dec. 11, 2024 /PRNewswire/ -- TAT Technologies Ltd. TAT TATT , a leading supplier of products and services for the commercial and military aviation industries and the ground defense industries, today announced that it has signed a five-year agreement with a major North American cargo carrier. Under the terms of the agreement, TAT will provide repair and overhaul services under an MRO agreement for auxiliary power units (APUs) on the Carriers' Boeing 757 and 767 aircraft. The total contract value over the duration of the agreement is estimated at approximately $17 million . Igal Zamir , President and Chief Executive Officer of TAT, commented, "This new contract marks another milestone for TAT's leadership in the APU cargo carrier market, representing a significant addition to the MRO agreements that are already in place with all of the major cargo carriers in North America . The customer will benefit from our best-in-class APU repair capabilities, our unique cost structure, and our unwavering level of customer service." 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 website: 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. Eran Yunger Director of IR erany@tat-technologies.com View original content: https://www.prnewswire.com/news-releases/tat-technologies-signs-a-5-year-17-million-mro-agreement-with-major-north-american-cargo-carrier-302329563.html SOURCE TAT Technologies Ltd. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Team claims NASCAR rescinded approval to buy new charter unless suit is droppedAvery Lake has a story to tell and is excited for the public to hear it once their debut album drops on Dec. 20. The Abbotsford artist has had a deep connection with nature for most of their life, originating from their childhood growing up in the Alps before eventually moving out to Abbotsford and its Pacific Northwest landscape. Now Lake has explored this love of the natural world while also contrasting it with the journey of technological progress in the new seven-track "Singular Dust" album. "Singular Dust is a meditation on the pulse that connects all things – nature, humanity, and the tools we create," said Lake. "It’s about tracing that rhythm, from the first murmur of life to the increasingly complex world we inhabit today. Crafted with a spirit of experimentation, the album embraces innovative creative tools that mirror its themes of singularities." All seven of the songs included on this album follow a narrative arc that begins with the concept of the creation of life concept and continues through to the future of humanity as the organic continues to blend together with the synthetic. When "Singular Dust" releases on Dec. 20, it will be available on all major music streaming sites, including both Spotify and Apple Music. More information on Avery Lake can be found at .
Connor Clark & Lunn Investment Management Ltd. Has $5.27 Million Stake in LG Display Co., Ltd. (NYSE:LPL)* Gap surges after raising annual sales forecast * Intuit drops after forecasting Q2 results below estimates * Small caps touch over one-week high * Indexes up: Dow 0.79%, S&P 500 0.28%, Nasdaq 0.11% (Updates for mid-afternoon trading) By Abigail Summerville and Johann M Cherian Nov 22 (Reuters) - All three stock indexes gained on Friday, headed for weekly gains as investors took comfort from data pointing to robust economic activity in the world's biggest economy. A measure of business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trump's administration next year. The domestically focused small-cap Russell 2000 index outperformed large-cap indexes with a 1.7% rise. The index hit its highest in more than a week and was set for weekly advances of nearly 4%. Meanwhile, Alphabet lost 1.4%, following Thursday's 4% drop, as the U.S. Department of Justice argued to a judge the company was monopolizing online search. AI bellwether Nvidia fell 3.2% on Friday in choppy trading following its quarterly forecast on Wednesday. An index tracking S&P 500 value stocks outperformed with a 0.74% rise as investors rotated out of their growth peers . "I’ve been looking for this leadership change to go from technology to everything else. I think we may be in the midst of that shift. Small caps are acting much better, values are acting better," said Mark Hackett, Chief of Investment Research at Nationwide. At 2:00 p.m. ET, the Dow Jones Industrial Average rose 344.79 points, or 0.79%, to 44,218.78, the S&P 500 gained 16.51 points, or 0.28%, to 5,965.22 and the Nasdaq Composite gained 20.38 points, or 0.11%, to 18,992.80. The S&P and the Dow reached one-week highs on Friday. The S&P 500 communication services sector led declines with a 0.4% loss. Consumer discretionary stocks boosted the S&P, rising 1.3%. Expectations on the Federal Reserve's policy move in December have recently swayed between a pause and a cut, as investors weigh the likely impact of Trump's plans on price pressures. There is a 59.6% probability the central bank will lower borrowing costs by 25 basis points, as per the CME Group's FedWatch Tool. Geopolitics were top of mind this week as investors monitored a missile exchange between Ukraine and Russia, after Moscow lowered its threshold for a nuclear retaliation. The markets are also awaiting Trump's Treasury Secretary pick. "The fact that we’ve been calm on a nice, steady stair step pattern higher is very encouraging and reflective of the fact that investors aren’t acting with the emotion that they could be given the amount of uncertainties we’ve faced," Hackett said. In company news, Gap Inc jumped 11% after the Old Navy parent raised its annual sales forecast and said the holiday season was off to a "strong start". Intuit lost 5.3% after the TurboTax parent projected second-quarter revenue and profit below Wall Street estimates on Thursday. Advancing issues outnumbered decliners by a 3.19-to-1 ratio on the NYSE, and by a 2.43-to-1 ratio on the Nasdaq. The S&P 500 posted 78 new 52-week highs and no new lows while the Nasdaq Composite recorded 156 new highs and 69 new lows. (Reporting by Abigail Summerville in New York; additional reporting by Johann M Cherian and Purvi Agarwal in Bengaluru; Editing by David Gregorio)
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