TAT Technologies

TAT Technologies is a publicly traded Israeli company, headquartered in Gedera, Israel, that provides environmental control products and services for the commercial and military aviation industries. Its shares are traded on the NASDAQ Capital Market and on the Tel Aviv Stock Exchange.

TAT Technologies Ltd.
TypePublic
NASDAQ: TATT
TASE: TATTF
IndustryDiversified technology
Founded1969 (1969)
FounderShlomo Ostersetzer
Headquarters
Gedera
,
Israel
Key people
Itsik Maaravi (CEO and Pres.)
ProductsHeat exchangers
Cold plates
Cooling systems
Flow control valves
Revenue US$ 79.76 million (2010)
US$ –6.60 million (2010)
US$ –7.39 million (2010)
ParentKMN Holdings
Websitewww.tat-technologies.com
Footnotes / references
[1]

Operations

TAT Technologies is a manufacturer of environmental control systems for the commercial and military aviation industries. The systems it provides include heat exchangers and cooling systems, essential for the operation of aircraft machinery and electronics, as well as air conditioners for use in military installations and in armored vehicles.[2][3][4] TAT's clients have included the United States Army, Boeing, Lockheed Martin, Cirrus Aircraft, and Embraer.[5][6][7][8] The company's competitors include AMETEK, Honeywell International and Hamilton Sundstrand.[9]

Subsidiaries

History

TAT Technologies was founded in 1969 by Shlomo Ostersetzer in response to a French arms embargo on combatants in the Six-Day War – an embargo that primarily affected Israel. The company was established with the goal of replacing the French aviation industry, upon which Israel had relied extensively until that time.[12][13][14][15][16][17] TAT has been listed on the NASDAQ American stock exchange since 1987 and joined the Tel Aviv Stock Exchange in 2005.[18] In 2007 the ownership of TAT was acquired from Ostersetzer and partner Dov Zeelim by Isal, a subsidiary of KMN Holdings, controlled by Roni Elroy, son-in-law of Yitzhak Tshuva.[19]

Executive management

Shmuel Fledel, a former colonel in the Israeli Air Force, was appointed CEO of TAT in May 2008. Shmuel resigned in the beginning of 2012 and Mr Itzik Maaravi was appointed instead of him. Prior to Fledel's appointment, founder Shlomo Ostersetzer, ETH Zurich alumnus (Mechanical Engineering), and Dov Zeelim served as CEOs of the company. The CFO of the company has been since 2009 Mr Yaron Shalem[20][21][22][23]

Acquisitions
Company Year Price Reference
Limco 1993  
[24]
Piedmont 2005 $15 million Acquired via Limco[25][26]
Bental 2008  
[27]

See also

References
  1. "TATT Income Statement". Yahoo! News. 2011. Retrieved 23 November 2011.
  2. "TAT Technologies, Ltd". Hoover's. 2011. Retrieved 23 November 2011.
  3. Tsipori, Tali (18 August 2011). "חברה על הכוונת: ת.א.ת טכנולוגיות - חמה ומתחממת" [Company in the crosshairs: TAT Technologies – hot and getting hotter]. Globes (in Hebrew). Retrieved 23 November 2011. ת.א.ת מייעדת כרגע את מחליפי החום פרי פיתוחה אך ורק לכלי תעופה, ובכל כלי תעופה יש מספר מערכות מכניות ואלקטרוניות, ולכן בכל כלי תעופה יש מספר מחליפי חום, וכל אחד שונה מהשני מכיוון שהוא משרת מערכת אחרת.
  4. Daniel, Mary (10 September 2009). "TAT Technologies Comes at a Steal". Seeking Alpha. Retrieved 23 November 2011. The company's product line includes heat exchangers, cooling systems, cold plates, air conditioning systems, and fuel systems.
  5. Habib-Valdhorn, Shiri (16 May 2011). "TAT Technologies in US Army deal". Globes. Retrieved 23 November 2011.
  6. "Israeli firm supplies F-16 power units". United Press International. Gedera, Israel. 28 July 2010. Retrieved 23 November 2011.
  7. Hall, Steve (25 May 2010). "Cirrus Selects Supplier For SF 50 Jet Ice Protection System". AvStop.com. Retrieved 23 November 2011.
  8. Habib-Valdhorn, Shiri (7 April 2009). "TAT wins long-term Embraer deal". Globes. Retrieved 23 November 2011.
  9. "Tat Technologies Ltd". Reuters. Retrieved 23 November 2011.
  10. Pearson, Chrissy (9 February 2009). "Gov. Perdue Announces 120 Jobs in Forsyth Count". Raleigh, North Carolina: Governor of North Carolina. Retrieved 23 November 2011.
  11. "Piedmont Aviation Component Services, LLC". Bloomberg Businessweek. 2011. Retrieved 23 November 2011.
  12. "ממתינים לפד" [Waiting for the Fed]. Globes (in Hebrew). 19 September 2006. Retrieved 23 November 2011. החברה אגב הוקמה על-ידי שלמה אוסטרזצר בסוף שנות ה-60', בתגובה לאמברגו הצרפתי על ישראל.
  13. "Israelis Rap Ban on Arms by French". The Spokesman-Review. Jerusalem. Associated Press. 5 January 1970. p. 6. Retrieved 2 December 2011.
  14. "French Remove Mideast Arms Sale Embargo". Toledo Blade. Paris. Reuter. 27 August 1974. Retrieved 4 December 2011.
  15. Jenkins, Loren (7 January 1969). "France Orders Embargo on Spare Parts". The Times-News. Paris. UPI. p. 11. Retrieved 2 December 2011.
  16. "סמנכ"ל הכספים של תאת טכנולוגיות: 'הצמיחה שלנו די יפה, אבל אנחנו לא מסתפקים בה'" [Deputy CFO of TAT Technologies: 'Our growth is quite nice, but we aren't contenting ourselves with that']. Globes (in Hebrew). 7 November 2007. Retrieved 23 November 2011. החברה הוקמה ב-1969 על רקע החרם הצרפתי על ישראל, והיא נועדה להחליף את התעשייה הצרפתית בכל הקשור לתעופה.
  17. Greenberg, Shlomo (23 December 2003). "Tue: Fancy TAT". Globes. Retrieved 23 November 2011.
  18. "TAT TECHNOLOGIES LTD, Form 20-F, Filing Date Jun 28, 2006" (PDF). secdatabase.com. Retrieved May 15, 2018.
  19. Shuster, Shmuel (3 January 2008). "רוני אלרואי רוכש את השליטה בבנטל תעשיות מקיבוץ מרום גולן לפי שווי של 12.4 מיליון דולר" [Roni Elroy acquires control of Bental Industries of Kibbutz Merom Golan per valuation of $12.4 million]. TheMarker (in Hebrew). Retrieved 23 November 2011. קבוצת ת.א.ת, הנסחרת בבורסת נאסד"ק ובתל אביב במקביל, נמצאת בשליטת קבוצת קמן של רוני אלרואי, חתנו של יצחק תשובה. לפני כחודש וחצי רכשה קמן באמצעות החברה הבת ישאל, כ-54% מהון מניותיה של ת.א.ת תעשיות מידי שלמה אוסטרזצר ושותפו דב צאלים, תמורת כ-105.2 מיליון שקל.
  20. "Shmuel Fledel". Forbes.com. Retrieved 25 November 2011.
  21. "TAT TECHNOLOGIES LTD, Form PRE 14A, Filing Date Nov 14, 2002". secdatabase.com. Retrieved May 15, 2018. Mr. Ostersetzer has also served as Chief Executive Officer of the Company since 1990.
  22. "TAT Technologies Ltd. Announces Appointment of New CEO". PR Newswire. Gedera, Israel. 6 May 2008. Retrieved 23 November 2011.
  23. Habib-Valdhorn, Shiri (14 January 2009). "'מה יעזור לי לעשות פרופגנדה מול שוק ההון? עכשיו הכול נופל'" [What good will it do me to engage in propaganda against the financial market? Now everything is falling]. Globes (in Hebrew). Retrieved 23 November 2011. 'הכרתי את תאת עוד כשהייתי סרן בחיל האוויר, בשנת 1980, כשערכנו ניסויים על מערכת שפיתחנו.'
  24. "TAT Technologies Ltd acquires Limco Manufacturing Corp". AlacraStore.com. Thomson Reuters. 7 January 1993.
  25. "TAT Technologies Ltd. Acquires Piedmont Aviation Component Services, LLC, a Leading North Carolina-Based Fully Licensed Aviation Repair Station". TheFreeLibrary.com. Gedera, Israel. PR Newswire. 7 July 2005. Retrieved 23 November 2011.
  26. "TAT Technologies buys Piedmont Aviation for $15m". Globes. 25 May 2005. Retrieved 23 November 2011.
  27. "TAT Technologies Ltd. Closes a Transaction to Purchase 37% of the Outstanding Shares of Bental Industries Ltd. and an Option to Acquire Additional 18% of Bental". Aviation Today. Gedera, Israel. PR Newswire. 21 May 2008. Retrieved 23 November 2011. 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%.
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