TAT Technologies Announces the Compensation of Certain Members of the Board of
Directors of the Company
GEDERA, Israel, Nov. 18, 2013
GEDERA, Israel, Nov. 18, 2013 /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 its
Compensation Committee and Board of Directors have approved pursuant to
Section 1a(2) of the Israeli Companies Regulations (Relief for Transactions
with Interested Parties), 2000, the compensation to the following members of
the Board of Directors: Mr. Jan Loeb, Mr. Ron Ben Haim, Ms. Dafna Gruber and
Mr. Aviram Halevi in the amounts set forth in the Second Addendum and the
Third Addendum of the Israeli Companies Regulations (Rules Regarding
Compensation and Expense Reimbursement of External Directors) - 2000, without
the need for further approval by the shareholders of the Company (the
"Relief"). In accordance with the foregoing, the fixed annual compensation of
each director shall be NIS 68,855 and the compensation for participating in
each Board of Directors (and its committees) meetings shall be NIS 2,565.
The Relief shall not be in force if one or more shareholders that holds at
least one percent of the Company's issued share capital or voting rights, has
informed TAT Technologies of its objection to the Relief, provided that an
objection notice in this respect is submitted to TAT Technologies in writing
within 14 days as of the date this Press Release is published.
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
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
For more information of TAT Technologies, please visit our web-site:
SOURCE TAT Technologies Ltd.
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