TAT Technologies Announces Appointment of a Receiver for its Shares Held by its Controlling Shareholder

 TAT Technologies Announces Appointment of a Receiver for its Shares Held by
                         its Controlling Shareholder

PR Newswire

GEDERA, Israel, October 23, 2012

GEDERA, Israel, October 23, 2012 /PRNewswire/ --

TAT Technologies Ltd. (Nasdaq: TATT), a leading provider of services and
products to the commercial and military aerospace and ground defense
industries, today announced that on October 22, 2012 a lender to its
controlling stockholder, TAT Industries Ltd. ("TAT Industries"), filed a
petition in the Lod District Court requesting the appointment of a temporary
receiver for the purpose of enforcing a lien granted to such lender by TAT
Industries in TAT Industries' approximately 43% ownership interest in TAT.

On October 23, 2012 the Court granted an ex-parte order to appoint a temporary
receiver and ordered that the petition to enforce the lien be heard on October
24, 2012. If the lien is enforced, TAT's shares owned by TAT Industries are
subject to sale which would result in a change of control of TAT.

The lender which filed the above mentioned petition is not the same lender
which filed a petition against KMN Industries Ltd., as described in TAT's
Current Report dated October 11, 2012.

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) OEM of Electric Motion Systems (iii)
Heat Transfer Services and Products and (iv) Maintenance, Repair and Overhaul
or "MRO" services of Aviation Components.

TAT's activities in the area of OEM of Heat Management Solutions primarily
include the design, development, manufacture and sale of (i) 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; (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 OEM of Electric Motion Systems primarily
include the design, development, manufacture and sale of a broad range of
electrical motor applications for airborne and ground systems.

TAT's activities in the area of Heat Transfer Services and Products include
the maintenance, repair and overhaul of heat transfer equipment and in a
lesser extent, the manufacturing of certain heat transfer products. TAT's
Limco subsidiary operates 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 Gear 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 also holds approximately 30% of the equity of First Aviation Services, a
world-wide distributor of products and services to the aerospace industry and
a one-stop-shop for MRO services (wheels, breaks, propellers and landing gear)
for the General Aviation Industry.

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.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which include, without
limitation, statements regarding possible or assumed future operation results.
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
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.

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

Contact:

Yaron Shalem
CFO
Tel: +972-88628501
yarons@tat-technologies.com

SOURCE TAT Technologies Ltd
 
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