RTTNews | Jul 2, 2021 10:25AM EDT

10:24 Friday, July 2, 2021 (RTTNews.com) - Shares of commercial and military aerospace products and service provider TAT Technologies Ltd. (TATT) are rising more than 50% Friday morning after the company said TAT Piedmont, a unit of TAT Technologies signed a new MRO partnership with Honeywell.

The deal is to maintain, repair and overhaul of Honywell's 131 Series of Auxiliary Power Units.

"The Company believes that due to the execution of the new strategic agreement with Honeywell, its addressable market size in the MRO segment is expected to grow in a substantial manner, and therefore opens the door to TAT for potentially significant revenue growth in the MRO segment," stated Igal Zamir, CEO and President of TAT Technologies.

TATT touched a new high of $10.44, before slipping to trade at $9.06 currently.

Read the original article on RTTNews ( https://www.rttnews.com/3206718/tat-technologies-soars-after-signing-new-mro-partnership-with-honeywell.aspx)

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