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Arotech Announces $1.6 Million
in new Battery and Charger Orders
October
22, 2009 - Arotech Corporation (NasdaqGM: ARTX), a provider
of quality defense and security products for the military, law enforcement
and security markets, announced today that its Battery and Power
Systems Division has received new orders totaling more than $1.6
million for batteries, chargers and state of charge indicators from
a number of international customers. The various battery components
will be used in communications equipment, night vision surveillance
and to power unmanned air vehicle (UAVs).
"We are delighted to announce today's
new battery order as we believe it continues to speak to the quality
of our products and services,” said Robert S. Ehrlich, Chairman
and CEO of Arotech Corporation. “We look at this as confirmation
of our commitment to research and development, as we continue to
strive to create even better battery products and solutions,"
concluded Ehrlich.
About Arotech's Battery and Power Systems
Division
Arotech’s Battery and Power Systems Division is a leading
provider of primary and rechargeable batteries and chargers for
defense 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 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. Arotech provides multimedia interactive simulators/trainers,
lightweight armoring and advanced zinc-air and lithium batteries
and chargers. Arotech operates through three major business divisions:
Armor, Training and Simulation, and Batteries and Power Systems.
Arotech is incorporated in Delaware,
with corporate offices in Ann Arbor, Michigan and research, development
and production subsidiaries in Alabama, 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, including the effect of any share repurchases by Arotech.
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; 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, 2008 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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