Limco-Piedmont Inc. Announces New Chief Executive Officers
07 Outubro 2008 - 7:10PM
PR Newswire (US)
TULSA, Okla., Oct. 7 /PRNewswire-FirstCall/ -- Limco-Piedmont Inc.
(NASDAQ:LIMC) today announced that Robert (Bob) Koch and Ehud
Netivi have been named Co-Chief Executive Officers effective
October 2, 2008. Mr. Koch was previously the President of
Limco-Airepair, Inc. and Mr. Netivi was previously the President of
Piedmont Aviation Component Services, Inc., subsidiaries of
Limco-Piedmont, Inc. They succeed Shaul Menachem who has stepped
down as a Director and CEO of the company, but will remain an
employee of the company through December 31, 2008. Dr. Shmuel
Fledel, the CEO of the company's parent, TAT Technologies Ltd., was
also elected Chairman of Limco-Piedmont, Inc. and will assume an
active role in the company's business. Both individuals have strong
aerospace backgrounds. Koch was employed for almost 20 years by the
Lori Heat Transfer operations of Honeywell Aerospace. He joined
Nordam Group Inc. in January 2005 and most recently served as
Senior Director of Support Services, located in Tulsa, OK. Netivi
has over 30 years experience in the aerospace industry, serving in
various managerial roles with Israel Aircraft Industries. Mr.
Netivi served as Production Manager, Business Development and
Marketing Director, and General Manager of several IAI
subsidiaries. Most recently, Mr. Netivi served as Business
Development and Marketing Director of IAI International, located in
St. Louis, Missouri. Dr. Fledel has served as TAT Technologies
Ltd's CEO since May 2008. Prior to that, between the years 2005 and
2008, Dr. Fledel served as Executive Vice President, Maintenance
and Engineering of El-AL Israel Airlines Ltd. From 1998 to 2005,
Dr. Fledel served as the Chief Executive Officer of Cyclone
Aviation Products Ltd., an Israeli company which serves as the
Elbit Systems Group's design and production center for metal and
composite structural aircraft components and parts for leading
aerospace companies and OEMs. From 1995 to 1998, Col. (Res.) Fledel
served as the Depot Commander of the Israeli Air Force. "We are
very grateful to Shaul for his years of service and dedication to
Limco and Piedmont. He has positioned the company well for the next
steps in our growth strategy. We are honored to now take the lead,"
said Limco-Piedmont Co-CEOs Bob Koch and Udi Netivi. About
Limco-Piedmont Inc. Limco-Piedmont Inc. provides maintenance,
repair and overhaul, or MRO, services and parts supply services to
the aerospace industry. Limco-Piedmont's four Federal Aviation
Administration certified repair stations provide aircraft component
MRO services for airlines, air cargo carriers, maintenance service
centers and the military. Limco-Piedmont specializes in MRO
services for components of aircraft, such as heat transfer
components, auxiliary power units, propellers, landing gear and
pneumatic ducting. In conjunction with Limco-Piedmont's MRO
services, Limco-Piedmont is also an original equipment manufacturer
of heat transfer equipment for airplane manufacturers and other
related products. Limco-Piedmont's parts services division offers
inventory management and parts services for commercial, regional
and charter airlines and business aircraft owners. Safe Harbor for
Forward-Looking Statements This press release contains
forward-looking statements that are subject to risks and
uncertainties. Factors that could cause actual results to differ
materially from these forward-looking statements include, but are
not limited to, general business conditions in the airline
industry, changes in demand for our services and products, the
timing and amount or cancellation of orders, the price and
continuity of supply of component parts used in our operations, and
other risks detailed from time to time in our filings with the
Securities Exchange Commission, including our Annual Report on Form
10-K and our Quarterly Reports on Form 10-Q. These documents
contain and identify other important factors that could cause
actual results to differ materially from those contained in our
projections or forward-looking statements. Stockholders and other
readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made. We undertake no obligation to update publicly
or revise any forward-looking statement. DATASOURCE: Limco-Piedmont
Inc. CONTACT: Carla Covey, Chief Financial Officer for
Limco-Piedmont Inc., +1-918-445-4300
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