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Arotech’s MDT Subsidiary
Receives Over $3.1 Million in Orders for Armored Vehicles
MDT Armor’s backlog over
$12 million
April
13, 2004 - Arotech Corporation (NasdaqNM: ARTX) announced today
that its MDT vehicle-armoring subsidiary has received new orders
of over $3.1 million. Vehicles will be armored in both the new Auburn,
Alabama facility, and in the Israeli facility.
With these orders, MDT’s
backlog stands at over $12 million.
“The recent events in Iraq
and in other places around the world, are creating an increasing
demand for our security and defense products, including armored
vehicles,” said Robert S. Ehrlich, Arotech Chairman and CEO.
“Both our armoring facilities are in position to grow and
accommodate this demand.”
Arotech’s corporate offices
have moved to 250 West 57th Street, Suite 310, New York, NY 10107.
The new telephone number is (212) 258-3222, and the fax is (212)
258-3281.
About MDT
MDT
is a leader in state-of the art, lightweight armoring of vehicles.
MDT's vehicle armoring business has years of battlefield experience
and has provided life-saving protection under the most extreme conditions,
which include assault rifles and bomb blasts. MDT armors a variety
of armored vehicles: SUV’s such as the Toyota Land Cruiser,
the Land Rover Defender and the GM Suburban; vans and buses –
from an 8 passenger Ford Econoline to a 16 passenger Mercedes bus;
ambulances and other specialty vehicles.
About Arotech Corporation
Arotech Corporation
provides quality defense and security products for the military,
law enforcement and homeland security markets, including advanced
zinc-air and lithium batteries and chargers, multimedia interactive
simulators/trainers and lightweight vehicle armoring.
The Battery and Power Systems Division includes
Electric Fuel Battery Corporation
and Epsilor Electronic Industries.
The Simulation, Training and Consulting Division includes IES
Interactive Training, FAAC Incorporated
and Arocon Security Consulting.
The Armored Vehicle Division includes MDT
Armor Corp and MDT Protective
Industries Ltd.
Arotech is incorporated in Delaware, with corporate
offices in New York, and research, development and production subsidiaries
in Alabama, Colorado, Michigan and Israel.
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. 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 significantly.
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; and other risk factors detailed in Arotech’s
most recent Annual Report on Form 10-K for the fiscal year ended
December 31, 2003 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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