Arotech's IES Interactive Training (IES) Receives Contract From
Arotech's IES Interactive Training (IES) Receives Contract From Hong Kong Police Force for Live-Fire Simulation Training Systems Valued at up to $3.8M
Prestigious International Win Places IES at the Forefront of Live-Fire Simulation System Technology
ANN ARBOR, MI -- (Marketwire) -- 10/31/12 -- Arotech Corporation (NASDAQ: ARTX) announced today that its Training and Simulation Division's IES Interactive Training unit was selected to supply modern interactive laser and live-fire firearms training simulators to the Hong Kong Police Force. The contract calls for the delivery, installation, and support of IES's exclusive MILO Range Firearms Training Simulators with live-fire capability into 34 mini-ranges for training various tactical and educational units of the Hong Kong Police Forces. The contract is valued at $3.8M. The competitive contract award was issued by the Government Logistics Department of the Government of the Hong Kong Special Administrative Region of the People's Republic of China.
The comprehensive selection process included a thorough validation of system capabilities and features, an evaluation of past performance & company history, and a scored demonstration of full compliance with highly detailed performance specification which stressed requirements for accuracy & realism. At the end of the competition, IES and the MILO Range system met and passed all graded requirements with sufficient points to merit receiving the award.
"We are pleased that IES was selected for this competitive contract award from such a highly regarded organization as the Hong Kong Police Force," said Robert McCue, IES's General Manager. "IES's MILO Range laser-based training simulators have long been the de facto system of choice for law enforcement and public safety agencies in the United States, Europe, and Latin America. Now that the technical and training experts within the Hong Kong Police Force have selected MILO to satisfy their live-fire simulation training requirements, we are in position to extend the benefits of IES MILO training throughout Asia," McCue noted.
The first deliveries under this contract will begin in Q4 2012 and continue in phases over a 24-month period. The contract has exercisable provisions for system support and maintenance over a t en-year period.
About Arotech's Training and Simulation Division Arotech's Training and Simulation Division (ATSD) provides world-class simulation based training solutions. ATSD develops, manufactures, and markets advanced high-tech multimedia and interactive digital solutions for engineering, use-of-force, and driver training simulations for military, law enforcement, security, municipal and private industry personnel. The division's fully interactive driver-training systems feature state-of-the-art vehicle simulator technology enabling training in situation awareness, risk analysis and decision-making, emergency reaction and avoidance procedures, and conscientious equipment operation. The division's use-of-force training products and services allow organizations to train their personnel in safe, productive, and realistic environments. The division provides consulting and developmental support for engineering simulation solutions. The division also supplies pilot decision-making support software for the F-15, F-16, F-18, F-22, and F-35 aircraft, as well as simulation models for the ACMI/TACTS air combat training ranges.
Arotech's Training and Simulation Division consists of FAAC Incorporated (www.faac.com), IES Interactive Training (www.ies-usa.com), and Realtime Technologies (www.simcreator.com).
About Arotech Corporation Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates through two major business divisions: Training and Simulation and Battery and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan, and research, development and production subsidiaries in Alabama, Michigan, and Israel. For more information on Arotech, please visit Arotech's website at www.arotech.com.
Contact For more information on IES Interactive Training 1.800.344.1707 or visit our website at www.ies-usa.com.
For more information on Arotech or investor and public relations, please contact Victor Allgeier, TTC Group, 1.646.290.6400, email@example.com.
Except for the historical information herein, the matters discussed in this news release, including any earnings guidance, include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary materially. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders; Arotech's ability to remain listed on the Nasdaq Stock Market in accordance with the Nasdaq's $1.00 minimum bid price and other continued listing standards; and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's websites above does not constitute incorporation of any of the information thereon into this press release.
Investor Relations Phone: 1-646-290-6400 TTC Group