TAT Technologies Ltd. Closes a Transaction to Purchase 37% of the Outstanding Shares of Bental Industries Ltd. and an Option to
May 21 2008 - 2:30PM
PR Newswire (US)
GEDERA, Israel, May 21 /PRNewswire-FirstCall/ -- TAT Technologies
Limited (Nasdaq/NMS: TATTF) announced today that it completed the
acquisition of 37% of the outstanding shares of Bental Industries
Ltd. ("Bental"), and acquired an option to purchase an additional
18% of Bental. TAT Industries Ltd., the controlling shareholder of
the Company, currently holds 15% of Bental. Accordingly, as of
today, the TAT Group holds 52% of the outstanding shares of Bental
and has the right to increase its controlling interest to 70%.
About Bental Industries Ltd. Bental specializes in innovative
motion technologies for military and aviation purposes. It was
established in 1983 and has approximately 140 employees. Bental is
the leading supplier in its field to Israel's defense industries.
Its products are also supplied to military aerospace and industrial
companies worldwide. About TAT Technologies Ltd. TAT Technologies
is principally engaged in the manufacture, repair and overhaul of
heat transfer equipment, such as heat exchangers, precoolers and
oil/fuel hydraulic coolers used in aircraft, defense systems,
electronic equipment and other applications. In addition, the
Company manufactures aircraft accessories and systems such as
pumps, valves, Power Systems, Turbines and overhauls aircraft
Auxiliary Power Units (APUs), landing gears and propellers.
DATASOURCE: TAT Technologies Limited CONTACT: Israel Ofen,
Executive Vice-President and Chief Financial Officer of TAT
Technologies, 011-972-8-859-5411
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