ANN ARBOR, Mich., Sept. 16, 2015 /PRNewswire/ -- Arotech
Corporation's (Nasdaq GM: ARTX) Training and Simulation Division
(ATSD) announced up to $8.1 million
in new contracts and awards for its Air Warfare Simulation Group.
These orders include a $4 million
five-year sole source award for FAAC's air-to-air training range
software, as well as significant awards to enhance its Zone
Acquisition Process software, which is embedded in every U.S. Air
Force fighter aircraft to assist the pilot in weapon employment.
Funding associated with these new orders totals $3.4 million, with the remainder to be
incrementally funded over the next five years.
"Our ability to provide our customers with high-speed,
highly-accurate weapon simulators is a testament to the
sophistication of our technology and more than four decades of
development," commented Kurt Flosky,
Arotech Training and Simulation Division President. "Our Air
Warfare Simulation applications add significant value to fighter
pilots by providing consistent, accurate weapon employment
information during live and simulated training sessions, as well as
during combat."
Revenues expected from these contracts and awards support the
Company's current outlook for full-year 2015 and strengthen its
backlog.
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 simulators.
Arotech's Training and Simulation Division consists of FAAC
Incorporated (www.faac.com), MILO Range Training Systems
(www.milorange.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 two major
business divisions: Training and Simulation, and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in
Ann Arbor, Michigan, and research,
development and production subsidiaries in Michigan, South
Carolina, and Israel. For
more information on Arotech, please visit Arotech's website at
www.arotech.com.
Investor Relations Contacts:
Brett Maas / Rob Fink
Hayden IR
(646) 536.7331 / (646) 415.8972
ARTX@haydenir.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, 2014 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
release.
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SOURCE Arotech Corporation