ANN ARBOR, Michigan, February 26, 2013
Arotech Receives $2.4 Million Swipes[TM] Order From the US Army
Soldier Worn Integrated Power Equipment System reduces battery weight carried by soldiers by up to 30%
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 its Battery and Power Systems Division received an order from the United States Army for over 1,500 units of its award-winning SWIPES™ System.
The Soldier Wearable Integrated Power Equipment System, or SWIPES™, utilizes the MOLLE vest and integrates force protection electronics and communication equipment, with an advanced battery. The system utilizes a modular power distribution system that is powered by BA-8180/U, BA-8140/U Zinc-air batteries or LI-145, BB2590 rechargeable batteries for providing direct power to equipment. This enables extended mission times without the burden of power source swaps or charging due to their high energy density, and reduces battery weight that soldiers are carrying by up to 30%. The batteries continuously charge the secondary batteries inside various devices, such as two way radios, GPS units and shot detection systems. The SWIPES™ product allows for individual tailoring for a soldier and is designed to accept new applications as they become available.
"Reducing the load on a soldier and simplifying the supply logistics promoted SWIPES™ to be awarded the accolade of a Top-Ten Best Army Inventions in 2011," declared Arotech's Chairman and Chief Executive Officer, Robert S. Ehrlich. "This follow-on order from the US army is testament to the effectiveness of our product and reflects its increasing acceptance among US Ground Forces."
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 through 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.
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, 2011 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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