Limco-Piedmont and TAT Technologies announce merger

Limco-Piedmont Inc. and TAT Technologies Ltd. have entered into a definitive agreement and plan of merger pursuant to which TAT (which presently owns 61.8% of Limco’s common stock) will acquire all of the publicly held shares of common stock of Limco pursuant to a stock for stock merger. Under the terms of the merger agreement, Limco’s stockholders will receive one half of an ordinary share of TAT for each share of Limco common stock they own. The exchange ratio in the transaction represents a premium of 12% to Limco’s closing share price on April 2, 2009 (the day before the announcement of the merger). It also represents a 24.3% premium over Limco’s 20 day volume weighted average stock price on the Nasdaq global market.