Arotech Awarded $2.3 Million
Rechargeable Lithium-Ion Battery Contract
13, 2005 - Arotech Corporation (NasdaqNM: ARTX) announced today
that its Battery and Power Systems Division has received a $2.3
million contract for the delivery of tens of thousands of smart
rechargeable lithium-ion batteries. The smart batteries were chosen
by an undisclosed military for their flagship man-portable hand-held
radio. The batteries contain an integral state-of-charge indicator
enabling optimal usage in mission-critical military environments.
“The award of this strategic
contract confirms our leadership in military portable power sources,”
said Robert S. Ehrlich, Chairman and CEO of Arotech Corporation.
“With rechargeable solutions gaining traction in military
doctrines, we will strive to penetrate additional markets with our
Arotech’s Battery and Power Systems
Division is a leading provider of zinc-air and lithium batteries
and chargers for defense and security products and other military
applications. Arotech develops and produces high power zinc-air
batteries and is believed to be the sole supplier of this technology
to the US military. In addition, Arotech develops high-end primary
and secondary batteries and associated chargers and has vast experience
in working with government agencies, the military and large corporations.
The division also pioneers advancements in zinc-air technology for
The Battery and Power Systems Division
consists of Electric Fuel Battery Corporation, Electric Fuel Ltd.,
and Epsilor Electronic Industries Ltd.
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,
lightweight armoring and advanced zinc-air and lithium batteries
and chargers. Arotech operates through three major business divisions:
Armoring, Simulation and Security and Batteries and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in Auburn,
Alabama and research, development and production subsidiaries in
Alabama, Colorado, Michigan, California 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, 2004, as amended, 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.