SimiGon Limited USAF logistics support contract extension (8686W)
April 24 2019 - 2:18AM
UK Regulatory
TIDMSIM
RNS Number : 8686W
SimiGon Limited
24 April 2019
SimiGon Ltd
("SimiGon" or the "Company")
USAF logistics support contract extension
SimiGon, (LSE: SIM), a global leader in modelling, simulation
and training solutions, is pleased to announce that the United
States Air Force ("USAF") has exercised an option to extend the
existing Contractor Logistics Support ("CLS") contract for
SimiGon's SIMbox-based T-6A Level 5 FAA Compliant Flight Training
Device ("FTD") for one year (the "Contract").
Under the Contract's extended twelve month period of
performance, SimiGon will provide software and hardware warranties
and support services for the sixteen T-6A Level 5 FTDs, including
the simulators that have been delivered by SimiGon as part of the
2016 contract with Booz Allen.
The Contract is expected to enable SimiGon to invoice for
services totaling up to $1.41 million over the next twelve month
period. The expected revenue from this Contract was already
factored into management's expectations.
The Contract indicates end user satisfaction with SimiGon's
performance as well as the strategic importance of the training
devices in meeting USAF's Undergraduate Remotely Piloted Aircraft
Training ("URT") program requirements. The devices provide valuable
training capabilities whilst also saving the Government
considerable training time and costs. The Company has organically
increased its CLS capabilities over the lifecycle of this
contract.
SimiGon President and CEO, Ami Vizer, said: "We are very excited
to receive the CLS option year contract to support the URT training
programme and ensure first class training for new operators. This
Contract validates SimiGon's capabilities to successfully deliver
and maintain long term contracts for strategic clients and further
demonstrates the USAF's confidence in our products and support
services. Management expects this Contract to generate new business
with the USAF and other Government end users."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
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
Scott Mathieson / Matthew 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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