SimiGon Limited Further Contract
June 21 2018 - 2:00AM
RNS Non-Regulatory
TIDMSIM
SimiGon Limited
21 June 2018
SimiGon Ltd
("SimiGon" or "the Company")
United States Air Force adds additional SimiGon support for T-6A
simulators
SimiGon, (LSE: SIM), a global leader in modelling, simulation
and training solutions, is pleased to announce that the United
States Air Force (USAF) has executed a contract amendment (the
"Contract Amendment") to add additional onsite support services for
the sixteen T-6A Level 5 Flight Training Devices (FTDs) under the
Contractor Logistics Support contract for SIMbox-based T-6A Level 5
FAA Compliant FTDs announced 7 February 2018 (the "Contract").
This increases the total Contract value, for which the Company
will be entitled to invoice the client up to an additional $315,100
during the 12 month period ending 30 April 2019. The expected
revenue from this Contract was already factored into management's
expectations for the year ended 31 December 2018. In addition, the
Contract is expected to contribute to improved revenue visibility
for FY 2019.
The Company's growing T-6A business demonstrates the end user's
high regard for SimiGon's training devices and support maintaining
the systems. The FTDs are used to provide thousands of training
events annually for the USAF's Undergraduate Remotely Piloted
Aircraft Training (URT) program.
SimiGon President and CEO, Ami Vizer, said: "This Contract
Amendment is a result of our hard work to support the USAF URT T-6A
programme and maintain extremely high availability rates for a
demanding, high tempo training operation. We appreciate the USAF's
confidence in our COTS (commercial off the shelf) products and look
forward to continuing to develop support services business within
the USAF and other customers."
Enquiries:
SimiGon Ltd
Ami Vizer, Chief Executive Officer +1 (407) 951 5548
Efi Manea, Chief Financial Officer
finnCap (NOMAD & Broker) +44 (0) 20 7220 0500
Henrik Persson/Matthew Radley (corporate
finance)
Stephen Norcross (corporate broking)
About SimiGon
SimiGon (AIM: SIM) is a leading developer and supplier of
distributed simulation solutions for defence and civilian
applications. SimiGon is the creator of SIMbox, a leading PC-based
platform for creating, managing and deploying simulation-based
content across multiple domains. Through its off the-shelf training
solutions for demanding high-skill occupations, SimiGon provides
diverse organizations with faster and more cost-effective training.
SimiGon's growing client base includes blue-chip training and
simulation systems providers as well as air forces and commercial
airlines worldwide. Founded in 1998, SimiGon maintains offices in
Israel and the United States.
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END
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