Aerospace & Defense News - Defense Africa / Middle East.

 
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New York, Geneva (AirGuideBusiness - Aerospace & Defense News - Defense Africa / Middle East) Nov 27, 2011

TAT Technologies TAT Technologies Announces Potential Write Down and Impairment of Certain Assets. TAT Technologies Ltd., a leading provider of services and products to the commercial and military aerospace and ground defense industries, today announced that in the process of preparing its interim financial statement as of September 30, 2011 and in accordance with policies and practices customary to it and to its subsidiaries, TAT periodically evaluates the fair value of certain assets of the Group Companies. These valuations are conducted, inter alia, with the assistance of independent valuation companies and management estimations. Initial indications of a draft valuation received by the Company, suggests that material write down and/or impairment might be required with respect to the fair value of certain assets, the total of which may accrue to a total amount of approximately USD5.8 million (USD3.6 million...

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