TAT Technologies Reports an Offer Made by Isal to Negotiate a Potential Reorganization in Isal's Group
TAT Technologies Ltd. (NASDAQ: TATT) reported today that it has received an offer from Isal Amlat Investments (1993) Ltd, its indirect controlling shareholder, to negotiate a potential re-organization of Isal and its subsidiaries, for the consolidation of the Group's industrial activity in the metal segment with the Company's activity in the aviation market, by way of a purchase by the Company of the Metal Business, according to the following general scheme - KMN Industries (K.M.N) Ltd., an Israeli company controlled by Isal, shall transfer to the Company its entire holdings in the following companies, representing the Metal Business: (i) 80% of the issued and outstanding share capital of Avigdor Isal Industries Ltd.; (ii) 100% of the issued and outstanding share capital of Haglil Industries R.S. Ltd.; (iii) 100% of the issued and outstanding share capital of A.G.M. Tefen Ltd.; and (iv) 84% of the issued and outstanding share capital of Finkelstein Metals Ltd.
Finkelstein is a manufacturer of continuous cast alloy and extrusion alloys made of bronze, aluminum bronze and special brass. Hagalil specializes in the manufacturing of precision rubber and metal rollers for various industries and sectors. Avigdor operates in metal working, having professional capabilities and a wide range of state of the art equipment. AGM specializes in all type of metal working including assembly and final assembly.
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