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.
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.
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.