In the recent session,TAT Technologies Ltd. (NASDAQ: TATT)stock closedgreen9.68% to $0.45. During the last 52-week, the stock’s best price was $7.41, while the lowest price recorded was $3.0. GHSI’s current Market capitalization is 45.753M, and its volume yesterday was up325,302in contrast with its average volume of 25,485.
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In the pre-market session,TAT Technologies Ltd. (NASDAQ: TATT – News)stock surged dramatically more than 30% to $6.66 after the company revealed that their subsidiary, TAT Piedmont Aviation, and TAT Technologies Ltd. have entered into an exclusive 10-year agreement for a worldwide APU rental services contract, with an OEM, authorized GTCP331-500 engine. All Boeing 777 aircraft around the world are equipped with this engine. TAT-Piedmont will offer rental services to airlines that operate Boeing 777 aircraft and act as Honeywell’s exclusive preferred provider for any Honeywell GTCP331-500 APUs.
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Honeywell’s GTCP331-500 APU rental bank was acquired for approximately $6.5 million by TAT-Piedmont as part of this agreement.
Furthermore, Honeywell and TAT-Piedmont signed an MOU. Honeywell authorized TAT-Piedmont to provide MRO services to GTCP331-500 APU and made TAT-Piedmont an approved MRO services provider worldwide for this engine.
For over 20 years, TAT Piedmont has been the Honeywell channel partner for the APU. This includes the APU GTCP331-200/250, mainly installed on the Boeing 767 and Boeing C-17 platforms. TAT Piedmont signed a contract with Honeywell three months ago to transfer Honeywell’s MRO GTCP331-200/250 to TAT Piedmont.
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Together with its subsidiaries, TAT Technologies Ltd. offers solutions and services to various aerospace and defense industries, both commercial and military, in the US and around the world.
