TAT Technologies Reports Purchase of its Shares by Controlling Stockholder
Per share. Such purchase was made on the Tel Aviv Stock Exchange. Following such purchase, Isal beneficially owns 4,750,951 ordinary shares, representing 53.89 % of TAT's ordinary shares.About TAT Technologies LTD
TAT Technologies LTD is a leading provider of services and products to the commercial and military aerospace and ground defense industries.
TAT operates under four segments: (i) Original Equipment Manufacturing or "OEM" of Heat Management Solutions (ii) OEM of Electric Motion Systems (iii) Heat Transfer Services and Products and (iv) Maintenance, Repair and Overhaul or "MRO" services of Aviation Components.
TAT's activities in the area of OEM of Heat Management Solutions primarily include the design, development, manufacture and sale of (i) 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; (ii) environmental control and cooling systems on board aircraft and for ground applications; and (iii) a variety of other electronic and mechanical aircraft accessories and systems such as pumps, valves, power systems and turbines.
Big steps forward for fuel-efficient vehicles
The following editorial appeared in the Kansas City Star on Tuesday, Sept. 6:
Americans are driving more fuel-efficient vehicles and reducing the demand for gasoline, new figures show. It's an encouraging development at a time when pump prices remain stubbornly high.
Gasoline consumption fell by 2 percent from January to July of 2011 compared with the same months in 2010, according to the U.S. Energy Information Administration. Fuel efficiency accounted for half of the decline, while higher gas prices and consumers cutting back because of the uncertain economy caused the other half.
Americans still pay a lot for gasoline -- an average of $3.63 a gallon for unleaded as of last week -- but they are saving money through efficiency measures and smarter consumer habits.
This positive development has been too long in coming.
Federal legislators and U.S. automakers balked at establishing tough mileage standards for the U.S. fleet through most of the 1990s and the first decade of the 2000s. Sales of low-mileage, high-profit light trucks and sport utility vehicles were strong, partly because gas prices remained low.
