|
Arotech Awarded $700,000 Order
for Charger Cables and Interfaces
February
21, 2006 - Arotech Corporation (NasdaqNM: ARTX) announced today
that its Battery and Power Systems Division has received a $700,000
order for cables and interfaces from an undisclosed military. The
cables and interfaces will be used together with Arotech’s
rechargeable batteries and chargers, which will be supplied under
a separate recently-received order, to power the military’s
man-portable radios.
“This order further validates our leadership
in power source solutions and we continue to be the vendor of choice
for important military applications,” said Robert S. Ehrlich,
Chairman and CEO, Arotech Corporation.
Arotech’s Battery
and Power Systems Division is a leading provider of zinc-air
and rechargeable 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 electric vehicles.
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; Arotech’s ability to remain listed
on the Nasdaq Stock Market in accordance with the Nasdaq’s
$1.00 minimum bid price and other continued listing standards; dilution
resulting from issuances of Arotech’s common stock upon conversion
or payment of its outstanding convertible debt, which would be increasingly
dilutive if and to the extent that the market price of Arotech’s
stock decreases; 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.
|