TAT Technologies Ltd. Announces New Chief Executive Officers and New Active Chairman of Limco-Piedmont Inc.
October 10 2008 - 10:30AM
PR Newswire (US)
GEDERA, Israel, Oct. 10 /PRNewswire-FirstCall/ -- TAT Technologies
Limited (NASDAQ:TATTF) today announced the appointment of Robert
Koch and Ehud Netivi as Co-Chief Executive Officers of the
Company's subsidiary, Limco-Piedmont Inc., effective October 2,
2008. Mr. Koch was previously the President of Limco-Airepair, Inc.
and Mr. Netivi was previously the President of Piedmont Aviation
Component Services, Inc., subsidiaries of Limco-Piedmont. They
succeed Shaul Menachem, who has stepped down as a director and CEO
of Limco-Piedmont, but will remain an employee of Limco-Piedmont
through December 31, 2008. Both individuals have strong aerospace
backgrounds. Mr. Koch was employed for almost 20 years by the Lori
Heat Transfer operations of Honeywell Aerospace. He joined Nordam
Group Inc. in January 2005 and most recently served as Senior
Director of Support Services, located in Tulsa, OK. Mr. Netivi has
over 30 years experience in the aerospace industry, serving in
various managerial roles with Israel Aircraft Industries. Mr.
Netivi served as Production Manager, Business Development and
Marketing Director, and General Manager of several IAI
subsidiaries. Most recently, Mr. Netivi served as Business
Development and Marketing Director of IAI International, located in
St. Louis, Missouri. In addition, Dr. Shmuel Fledel, the CEO of the
Company, was elected Chairman of the Board of Limco-Piedmont
effective October 2, 2008. About TAT Technologies Ltd. The Company,
together with its subsidiaries, 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 and overhauls
aircraft accessories and systems such as pumps, valves, power
systems, turbines, etc. About Limco-Piedmont Inc. Limco-Piedmont
Inc. provides maintenance, repair and overhaul, or MRO, services
and parts supply services to the aerospace industry.
Limco-Piedmont's four Federal Aviation Administration certified
repair stations provide aircraft component MRO services for
airlines, air cargo carriers, maintenance service centers and the
military. Limco-Piedmont specializes in MRO services for components
of aircraft, such as heat transfer components, auxiliary power
units, propellers, landing gear and pneumatic ducting. In
conjunction with Limco-Piedmont's MRO services, Limco-Piedmont is
also an original equipment manufacturer of heat transfer equipment
for airplane manufacturers and other related products.
Limco-Piedmont's parts services division offers inventory
management and parts services for commercial, regional and charter
airlines and business aircraft owners. Safe Harbor for
Forward-Looking Statements This press release contains
forward-looking statements that are subject to risks and
uncertainties. Factors that could cause actual results to differ
materially from these forward-looking statements include, 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 and Exchange Commission. 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. DATASOURCE: TAT
Technologies Limited CONTACT: Yaron Shalem, Chief Financial Officer
of TAT Technologies Ltd., +972-8-8595400
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