ANN ARBOR, Mich., Nov. 19, 2015 /PRNewswire/ -- Arotech
Corporation (Nasdaq GM: ARTX) announced today that its Training and
Simulation Division (ATSD) has received $8.7
million in incremental awards and contract modifications
since September. Delivery of the products and services associated
with these contracts orders is anticipated to begin in 2015 and run
through calendar year 2016 and beyond.
The Simulation Division continues to benefit from strong demand
domestically and internationally for its MILO Range Use-of-Force
simulators. Recent orders also include municipal and research
driving simulator applications along with funding for logistical
support of its fielded systems.
"Our training and simulation solutions continue to gain interest
from new and existing customers in a number of diverse end
markets," commented Steven Esses,
Arotech's President and Chief Executive Officer. "We believe these
orders are the result of a long-term outlook that is focused on
successful delivery of cost effective, innovative solutions,
including products that provide enhanced operational capability and
represent significant savings for our customers."
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