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Arotech Receives $2 million
David Order
Company has just completed delivery
of Davids on a $23 million previous order; Total Corporate Backlog
now at $35 million
June 1, 2009 - Arotech Corporation
(NasdaqGM: ARTX) announced today that its Armor Division has received
orders valued at $2 million for its David Light Armored Vehicle. This
order comes as the Company has completed delivery on a previous $23 million
order of David vehicles and spare parts.
The David 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 been involved in numerous terror
attacks, withstanding assault weapons and various explosive devices,
saving lives of its occupants.
The new order contributed to Arotech’s
corporate backlog, which now totals $35 million.
“The David has become a key product in
MDT portfolio, and its success is clearly evident,” said Robert
Ehrlich, Arotech’s Chairman and CEO. “We are now starting
to market into markets outside of Israel.”
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, 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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