Ann Arbor, Michigan – June 12, 2018 – FAAC Incorporated, a subsidiary of Arotech Corporation’s [NasdaqGM: ARTX] Training and Simulation Division, announced that it has received a competitive award to modernize the U.S. Marine Corps’ Combat Convoy Simulators (CCS). The contract from Marine Corps Systems Command Program Manager Training Systems is valued at up to $28.9M with a maximum contract duration of 57 months. The initial award funding is $17.7M with up to an additional $11.2M in contract options.
The Combat Convoy Simulators provide an immersive training environment for convoy operations. CCS provides training for vehicle crew in both vehicle and small arms weapon utilization. The system is also utilized to train command and control procedures and crew response to improvised explosive device attacks, ambush attacks, evolving enemy tactics, and countermeasures. Under the base award contract, FAAC will modernize the hardware and software of the seven in-service USMC CCSs located at five sites. Contract options include the installation efforts, Contractor Logistical Support, upgrades for two U.S. Navy CCS systems, and travel and other direct costs.
“FAAC is very pleased to have been selected by the Marine Corp Systems Command to refurbish CCS and play a role in ensuring Marines have a state-of-the-art training system to prepare for their combat missions,” said Kurt Flosky, FAAC’s President. “Our solution leverages Department of Defense investments in other programs plus our own corporate capabilities in the area of vehicle/crew-coordination simulators and use-of-force training systems to provide the Marines with an open, modular product that is easy to maintain and upgrade in the future.”
About Arotech’s Training and Simulation Division
Arotech’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.
About Arotech Corporation
Arotech Corporation is a defense and security company engaged in two business areas: interactive simulation and mobile 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.
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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, 2017 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.