Arotech Recieves $5 Million in Battery Orders
ANN ARBOR, Michigan, July 2, 2013 /PRNewswire/ --
Arotech Corporation (Nasdaq GM: ARTX) a provider of quality defense and security products for the military, law enforcement and homeland security markets, announced today that it received a number of orders for batteries. The orders amounted to a total of $5 million and were from a mix of military and commercial customers, including $2.25 million in orders for the division's water-activated survivor locator lights.
"Our battery division continues to perform well and we are pleased that our many customers continue to order our products over and over again," commented Arotech's Chairman and Chief Executive Officer, Robert S. Ehrlich. "This is a testament to the high quality and technological edge inherent in our products, as well as our focus on customer service. Given the increasing market traction for our current range of battery products which was built on the back of significant past R&D investment, we are optimistic for the future. We are currently developing our next generation battery products and I am becoming increasingly excited about the prospects for this division both in the near and long term."
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 U.S. 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 (efbpower.com) and Epsilor-Electric Fuel Ltd. (epsilor.com; electric-fuel.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, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates two major business divisions: Training and Simulation and Battery 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. For more information on Arotech, please visit Arotech's website at http://www.arotech.com.
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. 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 (including as a result of budgetary cuts resulting from automatic sequestration under the Budget Control Act of 2011); and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2012 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.
Investor Relations Contact
For more information on Arotech or investor/public relations, please contact:
Ehud Helft and Kenny Green at CCG Investor Relations, Tel: +1-646-201-9246. E-mail: firstname.lastname@example.org
SOURCE Arotech Corporation
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