Arotech Receives $4.0 Million in New Awards for Training and Simultation
ANN ARBOR, Michigan, May 2, 2013
ANN ARBOR, Michigan, May 2, 2013 /PRNewswire/ --
Arotech Corporation (NasdaqGM: ARTX) has secured $4.0 million in new contract
funding in recent months for training and simulation products and services.
The new funding, spanning all training and simulation business units, is
highlighted by significant awards for programs in Air Warfare Simulation and
US Air Force Zone Acquisition Process software for pilot weapon employment.
"As we move through 2013, we have continued the track record of success for
our Training and Simulation products and services," commented Robert S.
Ehrlich, Arotech's Chairman and Chief Executive Officer. "We are encouraged by
the new funded contract awards which includes a mix of both new and repeat
customers, very much demonstrating the attractiveness of our offerings."
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 operator training simulations for military, law
enforcement, security, municipal and private industry personnel. The
division's fully interactive operator 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, conscientious equipment operation, and crew coordination. 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, simulation models
for the ACMI/TACTS air combat training ranges, and Air-Refueling Boom Arm
Arotech's Training and Simulation Division consists of FAAC Incorporated
(http://www.faac.com), IES Interactive Training (http://www.ies-usa.com), and
Realtime Technologies (http://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 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 http://www.arotech.com.
Except for the historical information herein, the matters discussed in this
news release 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 (including as a result of budgetary cuts
resulting from automatic sequestration under the Budget Control Act of 2011);
and other risk factors detailed in Arotech's most recent Annual Report on Form
10-K for the fiscal year ended December 31, 2012 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 website above does
not constitute incorporation of any of the information thereon into this press
Investor Relations Contact
For more information on Arotech or investor/public relations, please contact:
Ehud Helft and Kenny Green at CCG Investor Relations, Tel: +1-646-201-9246.
SOURCE Arotech Corporation
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