Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
TAT TECHNOLOGIES LTD.
(Translation of
registrant’s name into English)
P.O.BOX 80, Gedera
70750 Israel
(Address
of registrant’s principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7): o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____________
6-K Items
| 1. | Press Release announcing the entry into a new manufacturing contract with Embraer, Empresa Brasileira de Aeronáutica S.A. |
ITEM 1
Gedera, Israel, September 29, 2009, TAT Technologies Ltd. (Nasdaq: TATTF) today announced that it has been awarded, for the second time in the past 6 months, a contract by Embraer, Empresa Brasileira de Aeronáutica S.A., one of the world’s largest manufacturers of commercial aircraft, to be responsible for the design, manufacture, integration, testing, supply, and product support for the Pack Back-Up Heat Exchanger to be incorporated into the Legacy 450 midlight & Legacy 500 midsize, new executive jets being developed by Embraer. Earlier this year, TAT was awarded a contract by Embraer to supply the Pre-cooler Heat Exchanger to the same program.
Assuming the successful development and marketing of the new aircraft, TAT anticipates revenues from this new contract in approximately $10 million over a ten year period which should commence some time in 2010. In addition, it is expected that the product will, in the future, generate significant additional aftermarket and support revenues. TAT also anticipates incurring certain developmental expenses over the next two years in connection with the development of the product. TAT’s anticipated aggregate revenues in its two programs with Embraer exceed $35million
TAT’s President and CEO, Dr. Shmuel Fledel, remarked that “the signed contract with the customer is a significant achievement for the company and demonstrates TAT’s continuing ability to support Embraer with Turn Key Solutions. This contract furthers TAT’s strategy – to be one of the leading designers and manufacturer of Heat Transfer solutions and products. This contract significantly adds to TAT’s market position and enlarges the relationship between TAT & EMBRAER”.
TAT Technologies Ltd. provides a variety of services and products to the military and commercial aerospace and ground defense industries through its Gedera facility in Israel, as well as through its subsidiaries, Bental Industries Ltd., in Israel and Limco – Piedmont, Inc., in the U.S.
TAT operates under four operational segments: (i) OEM of Heat Transfer products (ii) OEM of Electric Motion Systems (iii) MRO services; and (iv) parts services, each with the following characteristics.
TAT’s activities in the area of OEM of Heat Transfer products primarily relate to the (i) design, development, manufacture and sale of a broad range of heat transfer components (such as heat exchangers, pre-coolers and oil/fuel hydraulic coolers) used in mechanical and electronic systems on-board commercial, military and business aircraft; and (ii) manufacture and sale of environmental control and cooling systems and (iii) a variety of other electronic and mechanical aircraft accessories and systems such as pumps, valves, power systems and turbines.
TAT’s activities in the area of OEM of Electric Motion Systems primarily relate to the design, development, manufacture and sale of a broad range of electrical motor applications for airborne and ground systems. TAT activities in this segment commenced with the acquisition of Bental in August 2008 and accordingly, the results in this segment for fiscal year 2008 are not compared with the previous years.
TAT’s MRO services include the remanufacture, overhaul and repair of heat transfer equipment and other aircraft components, APUs, propellers and landing gear. TAT’s Limco subsidiary operates FAA certified repair stations, which provide aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT’s parts segment focuses on inventory management and sale of APU parts, propellers and landing gear. TAT offers parts services for commercial, regional and charter airlines and business aircraft owners.
TAT’s executive offices are located in the Re’em Industrial Park, Neta Boulevard, Bnei Ayish, Gedera 70750, Israel, and TAT’s telephone number is 972-8-862-8500.
This press release contains forward-looking statements which include, without limitation, statements regarding possible or assumed future operation results, synergies, customer benefits, growth opportunities, financial improvements, expected expense savings and other benefits anticipated from the merger. 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, and other risks detailed from time to time in the company’s filings with the Securities Exchange Commission, including its registration statement on form F-4, 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.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
| TAT TECHNOLOGIES LTD. (Registrant) By: /s/ Yaron Shalem —————————————— Yaron Shalem Chief Financial Officer |
Date: September 29, 2009