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TAT Technologies Wins $45 Million Multiyear MRO Contracts

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TAT Technologies (TATT) said Wednesday it was awarded multiyear maintenance, repair and overhaul contracts worth about $45 million with international commercial and cargo airline customers.

The contracts have terms ranging from 5 to 10 years and cover auxiliary power unit and heat exchanger MRO services under OEM authorization, the company said.

TAT Technologies said it expects the new agreements to improve revenue visibility and expand its aviation aftermarket presence.

The company also said it expects a $4 million pre-tax gain in Q2 from the sale of a minority stake in an unconsolidated entity.

Shares of the company were up 6% in Wednesday trading.

Price: $42.79, Change: $+2.43, Percent Change: +6.02%

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