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TAT TECHNOLOGIES LTD. (FORMERLY GALAGRAPH LIMITED) REPORTS ACQUISITION

TAT TECHNOLOGIES LTD. (FORMERLY GALAGRAPH LIMITED) REPORTS ACQUISITION
 TEL AVIV, Israel, July 14 /PRNewswire/ -- TAT Technologies Ltd. (formerly Galagraph Limited) (NASDAQ: units - TATFU; shares - TATTF; warrants - TATWF) today announced that the company had completed the acquisition of Airepair International, Inc., a Tulsa, Okla., company whose main business is the overhaul and repair of aeronautical systems of commercial aircraft.
 The company stated that the purchase price for the Airepair business was $1.9 million which included payments of approximately $1.4 million payable over a 10-year period. The company will also pay over such period $1 million pursuant to a non-cancelable consulting agreement with Airepair's former sole stockholder.
 The company further stated that Airepair's sales for the year ended June 30, 1992, were in excess of $5 million, which resulted in a net profit for such year.
 TAT Technologies Ltd. operates principally in two industries: heat exchangers and computer systems. The heat exchanger division specializes in the manufacturing of high technology, compact heat exchangers, primarily for use in aircrafts and airborne systems. The computer systems division specializes in graphics and video systems, display simulation and testing and transportation systems.
 -0- 7/14/92
 /CONTACT: Shlomo Ostersetzer, chairman of TAT Technologies, 972-3-455-563/
 (TATTF) CO: TAT Technologies Ltd.; Airepair International Inc. ST: Oklahoma IN: AIR SU: TNM


CK-SM -- NY042 -- 9067 07/14/92 11:42 EDT
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Publication:PR Newswire
Date:Jul 14, 1992
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