TAT Technologies Ltd. selected as preferred supplier for $10M of heat exchangers for Cirrus Aircraft SF 50 Vision Jet

TAT Technologies Ltd. (Nasdaq: TATT - News), a leading provider of services and products to the commercial and military aerospace and ground defense industries, today announced that Cirrus Aircraft Inc. (Cirrus) has issued a letter of intent designating TAT as the preferred supplier of heat exchangers for Bleed Air Supply System and Ice Protection System onboard the new Cirrus Aircraft SF 50 Vision Jet. The parties will now begin the formalization of a Supply Agreement as well as the next phase of integrating TAT's Heat Exchangers into the Cirrus SF 50 Vision Jet systems. The program is estimated at $10M value over 10 years. Following the 10 years of production additional significant business volume may be generated by "after market" services to be provided by TAT.

TAT's President and CEO, Dr. Shmuel Fledel, commented: "the notification by Cirrus demonstrates that TAT's aggressive marketing efforts have resulted in enlarging its customer base as well as its leading position in the aviation industry and its advanced capabilities as Original Equipment Manufacturer for Heat Management Solutions. It is also demonstrates the reliability and trust between TAT and its customers. TAT is proud to partner with a new prestigious and leading customer such as Cirrus. This awards notification is aligned with TAT's strategy to increase volume of new long-term programs with manufacturers of aviation systems and aircrafts.