TAT Technologies subsidiary Piedmont Aviation Component Services has commenced legal action against First Aviation Services (FAvS) for breach of contract for failure to provide Piedmont with FAvS’s audited financial statements for the year ended December 31, 2010. Piedmont owns approximately 37% of the common stock of FAvS as well as certain of the preferred stock of FAvS. Under an agreement between the two companies, FAvS is required to provide Piedmont with audited financial statements of FAvS no later than 65 days after the end of its December 31 fiscal year (March 6). Piedmont states that despite repeated demands, FAvS refused

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