Arotech Training and Simulation Receives $9.5M U.S. Air Force IDIQ Award With Initial Task Orders Valued at $2.32M
March 20 2017 - 8:20AM
FAAC Incorporated, a part of Arotech Corporation’s Training and
Simulation Division (Nasdaq:ARTX), announced that it has received a
sole source $9.5M indefinite-delivery/indefinite-quantity award
from the U.S. Air Force. The scope covers updates to F-16 Common
Weapon Engagement Zones based upon FAAC’s Zone Acquisition Process
(ZAP) technology. The contract period of performance is through
March 2022. Two task orders were issued upon award valued at
2.32M.
“Currently adopted by all U.S. fighter aircraft,
our ZAP technology provides aircrew accurate weapon employment
information in all engagement conditions,” said Kurt Flosky, FAAC’s
President. “This effort continues our support of the F-16 community
in advancing the capabilities of its on-board software.”
About Arotech’s Training and Simulation
DivisionArotech’s Training and Simulation Division (ATSD)
provides world-class simulation based 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 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. The division also provides consulting and
developmental support for engineering and research simulation
solutions.
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
CorporationArotech 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.
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, 2016 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:
Scott Schmidt
Scott.Schmidt@arotechusa.com
800-281-0356
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