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Arotech Awarded Another Contract

Zacks Equity Research

Arotech Awarded Another Contract

Ken Nagy, CFA

On December 12, 2011, Arotech Corporation (ARTX), a provider of defense and security products, reported that its FAAC Incorporated, a member of its Training and Simulation Division, received a Naval Air Warfare Center Training Systems Division's Training Systems Contract III.

FAAC Incorporated is a member of Arotech Corporation's Training and Simulation Division which provides simulation-based training solutions through the development, manufacturing, and marketing of advanced high-tech multimedia and interactive digital solutions for engineering, use-of-force, and driver training simulations for military, law enforcement, security, municipal and private industry personnel.

Additionally, the division offers consulting and developmental support for engineering simulation solutions.

The Training Systems Contract III was awarded to FAAC as part of the Triton Joint Venture and is a multiple award Indefinite Delivery, Indefinite Quantity Contract that is intended to furnish the Naval Air Systems Command Team with a streamlined, quick reaction vehicle for the acquisition and support of training systems.

The Triton Joint Venture, which is comprised of FAAC Incorporated, Carley Corporation, and AVT Simulation, was selected as a Lot II Small Business Set Aside organization which, inclusive of all awarded contracts and ordering periods, has a not-to-exceed value of $2 billion available.

The Training Systems Contract program is entering its third generation, serving requirements as a Multiple Award Contract since fiscal 2000.

Its scope encompasses Training Systems design, development, production, test and evaluation, delivery, modification, and support and its base ordering period is five years, with two one-year optional ordering periods.

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