GEDERA, Israel, June 29, 2016 /PRNewswire/ --

TAT Technologies Ltd. (NASDAQ: TATT - News), a leading provider of services and products to the commercial and military aerospace and ground defense industries, announced today that the Board of Directors, at its meeting on June 28, 2016: 


        
        - Declared a cash dividend in the total amount of $3 million (approximately NIS11.7
          million), or $0.33981072 per share (approximately NIS1. 32526184 per share), for all
          of the shareholders of TAT Technologies. The dividend will be paid to shareholders of
          record on July 27, 2016. TAT Technologies will pay the dividend on August 9, 2016. In
          general, in accordance with Israeli tax law, the dividend is subject to withholding at
          source at the rate of 30% (if the recipient of the dividend is at the time of
          distribution or was at any time during the preceding 12-month period the holder of 10%
          or more of the Company's share capital) or 25% (for all other dividend recipients) of
          the dividend amount payable to each shareholder of record, subject to applicable
          exemptions.
        - Appointed Mr. Amos Malka as the Chairman of the Board of Directors. Mr. Malka will
          replace Mr. Shmuel Vlodinger as the new Chairman of the Board.

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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 or "OEM" of Heat Management Solutions (ii) Heat Transfer Services and Products (iii) Maintenance, Repair and Overhaul or "MRO" services of Aviation Components; and (iv) overhaul and coating of jet engine components.

TAT's activities in the area of OEM Heat Management Solutions are focused on the design, development, manufacture, and sale of the following: (i) a broad range of heat transfer components including heat exchangers, pre-coolers and oil/fuel hydraulic coolers used in mechanical and electronic systems on-board commercial, military and business aircraft; (ii) environmental control and cooling systems on board aircraft and for ground applications; 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 Heat Transfer Services and Products include the maintenance, repair and overhaul of heat transfer equipment and to a lesser extent, the manufacture of certain heat transfer product parts. TAT's Limco subsidiary operates an FAA certified repair station, which provides heat transfer MRO services and products 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 maintenance, repair and overhaul 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 jet engine overhaul includes the overhaul and coating of jet engine components such as turbine vanes and blades, fan blades, variable inlet guide vanes, afterburner flaps and other components.

For more information of TAT Technologies Ltd., please visit our web-site: http://www.tat-technologies.com

        
         
        Contact:

         
        Mr. Guy Nathanzon 
        CFO 
        Tel: +972-8-8628500 
        guyn@tat-technologies.com

         

 

SOURCE TAT Technologies Ltd