|
Arotech Receives over $10 Million
in follow on Orders for Davids and Aircraft Armor
MDT Armor exhibits new Tiger
vehicle at Eurosatory, France
June
14, 2010 - Arotech Corporation (NasdaqGM: ARTX), a provider
of quality defense and security products for the military, law enforcement
and security markets, announced today that its Armor Division has
received orders valued at more than $10 million for its David Light
Armored Vehicles and armor for various aircraft. With these orders,
Arotech's backlog stands at more than $45 million.
MDT Armor is exhibiting at the Eurosatory Defense show in Paris
this week. MDT is launching its new Tiger armored vehicle in booth
D681 in Hall 6. The Tiger is mine and blast protected, with various
add-on armor options, including reactive armor. Its 5 doors and
a roof hatch offer easy loading and unloading of soldiers and equipment.
The wide and spacious cabin, with its large payload capacity, can
be tailored to many missions.
The new Tiger vehicle is based on a commercial
Dodge RAM 5500 truck chassis, and has a powerful Cummins 350 HP
diesel engine, large wheels, and a 127" wheel base offering
exceptional all terrain capabilities. The advanced suspension system
ensures a comfortable ride for the crew. The 8.8 ton GVWR allows
- with a standard armor package - for a 1.5 ton payload, or 6 passengers
plus 900 kg of equipment. The add-on armor panels can be removed,
repaired, replaced or upgraded. An optional upgrade to a 10.4 ton
GVWR allows for an improved armor suite, including reactive armor
defeating RPG rockets and EFP charges.
MDT's veteran David vehicle is a lightweight
armored vehicle based on a Land Rover heavy duty Defender platform.
The David has been selected by the Israel Defense Force (IDF) as
its standard armored reconnaissance and patrol vehicle, and is operating
hundreds of them already.
The David has resisted numerous terror attacks,
withstanding assault weapons and various explosive devices, saving
the lives of its occupants.
"This is another major order for MDT,"
said Robert Ehrlich, Arotech's Chairman and CEO. "The David
has proven itself both in battlefield operations and as a strong
product line for the Armor Group."
About Arotech's Armor Division
Arotech's Armor Division is an innovative leader
in lightweight armoring for vehicles, aircraft and their operators.
The Armor Division has years of battlefield and commercial protection
experience and has provided life saving protection under the most
extreme conditions.
Arotech's Armor Division consists of MDT Armor
Corporation (www.mdt-armor.com), M.D.T. Protective Industries, Ltd.
(www.mdtisrael.com), and Armour of America (www.armourofamerica.com).
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 re-purchases 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, 2009 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.
|