SimiGon Limited Further Contract (9516D)
October 15 2018 - 1:00AM
UK Regulatory
TIDMSIM
RNS Number : 9516D
SimiGon Limited
15 October 2018
SimiGon Ltd
("SimiGon" or "the Company")
United States Air Force adds additional SimiGon support services
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 support services for the
sixteen T-6A Level 5 Flight Training Devices (FTD) under the
Contractor Logistics Support contract for SIMbox-based T-6A Level 5
FAA Compliant FTD announced 7 February 2018.
Under the Contract Amendment SimiGon will provide maintenance
support personnel to help with the ongoing upkeep of the FTD's
currently used by the USAF under the existing Contract. The
Contract Amendment increases the total Contract value by $0.5
million through 30 April 2019. The expected revenue from this
Contract was already factored into management's expectations for
the year ended 31 December 2018. The Contract Amendment is expected
to improve revenue visibility for FY 2019.
The Company's growing T-6A training support services business
demonstrates the end user's high regard for SimiGon's ability to
support and maintain the FTDs. The training devices support
thousands of training events annually for the USAF's Undergraduate
Remotely Piloted Aircraft Training program.
SimiGon President and CEO, Ami Vizer, said: "This Contract
Amendment is testimony to our hard work in keeping all sixteen
training devices fully serviced and available in a very demanding,
fast paced training environment. It also demonstrates the USAF's
confidence in our products and we look to continue growing the
services business within USAF and other Government 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/Matt Radley (corporate
finance)
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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