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08-01-2007 TAT Technologies and Stork N.V. announce today that they have not been able to reach a final agreement with respect to the previously announced proposed joint ventures with Piedmont and Limco. Both parties jointly came to this conclusion after TAT became aware of unexpected complexities, which for Stork lead to the conclusion that there was no sound basis for a successful transaction. Both parties regret this.
Parties wish to state that this decision has no influence on the existing business relationship between Fokker Services and Piedmont and Limco.
The previously announced proposed joint ventures concern the sale by TAT to Stork of a controlling interest in Piedmont Aviation Component Services LLC and a substantial minority interest in Limco Airepair, Inc., both wholly owned subsidiaries of TAT.
Stork N.V.
Dick Kors
Tel.: +31 (0)35 695 75 75 or +31 (0)6 51 98 40 54
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