TAT Technologies sells controlling interest in Bental Industries

28 March 2014

TAT Technologies Ltd. (NASDAQ: TATT) said it has closed the transaction to sell its entire interest in Bental Industries Ltd., constituting 70 percent of Bental´s issued and outstanding share capital, to Bental Investments Agshah Ltd., for an aggregate consideration of USD5m, after receiving all required approvals to consummate the closing.

TAT´s board of directors will consider alternatives for the use of funds received as consideration in such transaction, including use of the consideration for future strategic acquisitions by TAT in order to enhance TAT´s competitive advantages.

TAT Technologies is a provider of services and products to the commercial and military aerospace and ground defense industries.

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