TAT Technologies signs $36M MRO contract with cargo carrier

TAT Technologies (TATT) announced that it has signed a contract with a global cargo carrier to provide MRO services for two auxiliary power unit, or APU, platforms. The combined estimated value of the agreement is approximately $36M. The first component of the agreement is a two-year extension of TAT’s existing contract to provide MRO services for the GTCP331-200/250 APU, which is estimated at a value of approximately $22M. The second component is a new contract for MRO services for the GTCP331-500 APU, spanning an initial four-year term with an option to extend for an additional two years, which is estimated at a value of approximately $14M.