June 10, 2022
The contract was signed for 5 years, worth $ 50 million, to provide maintenance services to propulsion units (APUs). “Evidence of our ability to provide services to large fleets”
[בתמונה: מטה החברה בגדרה]
TAT Technologies announced today (Friday) that it has signed a long-term contract with a major global airline, under which it will provide maintenance, repair and overhaul (MRO) services to the auxiliary propulsion units of the entire aircraft fleet of that particular model, which are not Specified in the cell message. The services will be provided by Theat’s subsidiary in North Carolina Piedmont. The contract is for 5 years, with a total value of about $ 50 million.
Auxiliary power units are small jet engines that are not designed to propel the aircraft, but to supply energy to its internal systems. In 2020 and 2021, That signed a number of strategic contracts with the American company Honeywell under which it will provide MRO service for 10 years for auxiliary propulsion units of the leading models of the Boeing and Airbus aircraft manufacturers, including Boeing B777, B737 and B767 / 757 And Airbus A320.
The company’s CEO, Yigal Zamir, noted that these contracts are evidence of the company’s ability to provide services to large fleets. “The new contract is a milestone in realizing the strategic potential of our collaboration with the Univille, and proof of the trust placed in us by key players in the industry.”
The company is controlled by the Pimi Foundation and currently employs about 500 people. It manufactures and provides maintenance and overhaul services for heat control systems in civilian and military aircraft, aviation propulsion units used to start jet engines and supply power for the needs of internal aircraft systems, and manufacture parts of jet engines. That Ended 2021 with revenue of $ 78 million, a slight growth of 3.4% compared to $ 75.3 million in 2020. However, this is still significantly lower than the company’s revenue before the outbreak of the corona plague: in 2019, That’s revenue was $ 97.4 million. The company is traded on NASDAQ at a market value of approximately $ 55 million.
Posted in categories: News, Aviation and Security
Posted in tags: That
