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By Steve Hall |
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May 25, 2010 - TAT Technologies, a leading provider of services and products to the commercial and military aerospace and ground defense industries, on Monday announced that Cirrus Aircraft Inc. 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. |
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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 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.
Cirrus is the
world's leading innovator of single-engine, piston-powered aircraft.
Cirrus design began in 1984 as a kit airplane design and manufacturing
company in The Cirrus Vision SF50 is a single-engine, low-wing, seven-seat, very light jet aircraft under development by Cirrus Design. The aircraft was initially developed under the project name "The Jet", but Cirrus announced the final marketing name of "Vision SJ50" on July 9, 2008. In March the aircraft was redesignated as the "Vision SF50". The prototype aircraft was first shown publicly at the annual Cirrus Migration on June 26, 2008 and first flown on 3 July 2008. |
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The SF50 is intended to be a step up aircraft for pilots who have flown the Cirrus SR20 and SR22. The Vision SF50 is not intended to compete with very light jets like the Eclipse 500 and the Cessna Citation Mustang. It is intended for the personal use market and will be comparable to the Diamond Aircraft Industries D-Jet. The aircraft will be equipped with a Ballistic Recovery Systems parachute and will be made of a composite material. Cirrus began taking $100,000 deposits for the aircraft in 2006. Initially, as a public relations exercise, the company gave deposit holders a drawing of the aircraft in the form of a jigsaw puzzle, one piece at a time. On 28 June 2007, the entire puzzle was completed, and the aircraft's configuration was unveiled. TAT Technologies LTD is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under three operational segments: (i) OEM of Heat Transfer products (ii) OEM of Electric Motion Systems; and (iii) MRO services, each with the following characteristics: OEM of Heat Transfer products primarily includes the (i) design, development, manufacture and sale of a broad range of heat transfer components (such as heat exchangers, pre-coolers and oil/fuel hydraulic coolers) used in mechanical and electronic systems on-board commercial, military and business aircraft; and (ii) manufacture and sale of environmental control and cooling systems and (iii) a variety of other electronic and mechanical aircraft accessories and systems such as pumps, valves, power systems and turbines. OEM of Electric Motion Systems primarily includes the design, development, manufacture and sale of a broad range of electrical motor applications for airborne and ground systems. TAT activities in this segment commenced with the acquisition of Bental in August 2008 and accordingly, the results in this segment for fiscal year 2008 are not compared with the previous years. MRO services include the remanufacture, repair and overhaul of heat transfer equipment and other aircraft components, APUs, propellers and landing gear. TAT's Limco subsidiary operates FAA (Federal Aviation Administration ) certified repair stations, which provide aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT also holds
approximately 37% of the equity of First Aviation Services, a world-wide
distributor of products and services to the aerospace industry and a
one-stop-shop for MRO services (wheels, breaks, propellers and landing
gear) for the General Aviation Industry. |
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