The agreement covers the current fleet of 160 aircraft and the total value may exceed $45M.
TAT CEO Itsik Maaravi: "This contract will position us as a world leading maintenance service provider for Embraer E - 170/190 Landing Gear as the fleet is just entering first wave of major overhaul requirements. It constitutes an important step in our strategy of solidifying TAT Technologies and subsidiaries as world leading service providers."
European equity futures (NYSEARCA:EWU) indicate positive opens following Scotland's "no" vote. Euro STOXX 50 futures is up 1%, while FTSE 100 futures indicates U.K. markets could open up 1.1%. Pound futures (NYSEARCA:FXB) are up about 0.5%.
With 31 of 32 constituencies now final, unionists had won 55% of the vote and separatists had 45%.
Shares of stocks exposed to Scotland like Royal Bank of Scotland (NYSE:RBS) and Lloyds (NYSE:LYG) indicate early gains of 2-3%.
Just two of thirty-two regions have reported, but those in favor of Scotland staying in the U.K. have a comfortable lead. The story of the evening so far is remarkably high turnout - most regions are in the 80-90% range; this compared to the 60% range for recent general elections.
It's still very early and results from the heavily populated areas of Edinburgh, Glasgow, and Aberdeen aren't due until midnight eastern daylight time.
The pound (NYSEARCA:FXB) is higher by 0.7% to $1.6510, and FTSE 100 (NYSEARCA:EWU) futures are up 0.45%.
Shares of Hyundai (OTC:HYMLF, OTC:HYMTF) fell as much as 10% overseas on news the Hyundai/Kia consortium won a ferocious bidding war for a $10B trophy HQ in Seoul’s upmarket Gangnam district.
Hyundai paid three times the appraised value for the 79K sqm plot; it plans to relocate the group’s headquarters there, and plans to build a hotel and a car theme park.
Analyst Ko Tae-bong summed up investor sentiment: "The bid price is excessive, which is incomprehensible to investors. Investors had expected Hyundai to use most of its surplus cash for constructive things such as raising dividends or R&D spending. But they are angry to see the group burn cash like this to buy a single property." (FT)
Moody's this morning informed France it will downgrade its government rating to AA2 from AA1. (L'Opinion)
Citigroup analyst Peter Goves said earlier this week he expected the ratings agency to put France on review for a possible downgrade tomorrow. Still, the move was not unanticipated, and there is no immediate reaction apparent in French or EU securities.