Shares of TAT Technologies Ltd. (NASDAQ:TATT) gained 2.9% following the company’s announcement of a new $10 million contract with a prominent Israeli defense integrator for the supply of OEM components.
This latest deal raises TAT’s projected revenue from defense-related contracts to $22 million so far this year. The agreements span both original equipment manufacturing and maintenance, repair, and overhaul (MRO) services, supporting the Israeli Air Force as well as various defense integrators.
TAT Technologies operates across commercial and military aviation markets, in addition to providing solutions for ground-based defense systems. The company said it is aligning its operations to meet increasing demand fueled by recent geopolitical shifts and Israel’s expanded defense budget.
“The contracts supporting the Israeli Air Force and global defense leaders underscore TAT’s strategic role as a supplier of components and a provider of critical maintenance services across multiple aerial platforms,” said Igal Zamir, President and Chief Executive Officer of TAT.
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