ANN ARBOR, Michigan,
December 2, 2014 /PRNewswire/ --
Arotech Corporation [Nasdaq GM: ARTX] announced today that it
will be relocating the operations of its Electric Fuel Battery
Corporation (EFB) subsidiary from Auburn,
Alabama to Arotech's cutting-edge engineering and
manufacturing facilities in Charleston,
South Carolina, beginning early in 2015. The South
Carolina location is the home base of UEC Electronics, which
Arotech acquired in April, 2014. The relocation is expected to be
completed by the end of the first quarter of 2015.
This strategic consolidation will provide customers with
expanded and comprehensive Energy Storage and Power Management
design, integration and manufacturing capabilities. The
collaboration will optimize product development to provide a
broader range of high performing and affordable power solutions.
Noteworthy programs, such as the US Army's SWIPES and the
Marine Corps' GREENS and MEHPS, expect to realize continued
improvements as a result of this co-location.
"Combining the domestic facilities of our Power Systems Division
under one roof will not only enable us to lower overhead costs, it
will also allow all parts of the division to better work together
and unleash the synergies from the acquisition of UEC earlier this
year," commented Steven Esses,
President and CEO of Arotech. "Our advanced engineering and
manufacturing facility in Charleston,
South Carolina was designed for growth and can easily
support the additional capacity. We will relocate key
employees from Auburn to
Charleston, and we look forward to
realizing increased growth across our newly unified division over
the coming years."
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, South
Carolina 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, as amended, for the fiscal year ended December 31, 2013 and in Exhibit 99.3 to
Arotech's Current Report on 8-K, filed on April 1, 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.
Investor Relations Contact
For more information on Arotech or investor/public relations,
please contact:
Ehud Helft and Kenny Green at GK Investor & Public
Relations
Tel: +1-646-201-9246. E-mail: arotech@gkir.com
SOURCE Arotech Corporation