WASHINGTON, DC -- 10/06/09 --
Arotech Corporation (NASDAQ: ARTX) announced
today that its Armor Division has signed an agreement with Israel Military
Industries Ltd (IMI) to jointly market the MDT David in markets worldwide.
IMI's Land Systems Division has been specializing in development,
integration and production of combat proven systems for Main Battle Tanks
(MBT) and Armored Personnel Carriers to the Israel Defense Forces (IDF) and
selected customers around the world. Drawing on its worldwide armor
marketing network, IMI will now also be able to offer a lightweight combat
vehicle with extensive IDF experience -- The David.
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 the lives of its
occupants.
The Agreement does not cover areas where MDT is currently actively
involved, such as the US, India and Israel. The Agreement was signed
yesterday at the Arotech display at the Annual Meeting of the Association
of the US Army (AUSA) in Washington, DC. Arotech's Armor Group's AUSA
display includes the David and other armor products.
"The David has proven itself time and again," said Robert Ehrlich,
Arotech's Chairman and CEO. "With this joint marketing program we will be
able to offer the David to customers worldwide."
About Israel Military Industries Ltd (IMI)
IMI is located in Ramat Hasharon, Israel and provides a broad range of
vehicle protection system solutions. IMI is a diversified, high-technology
company specializing in the development, manufacturing and deployment of a
wide range of state-of-the-art combat-ready solutions. More information
about IMI can be found at www.imi-israel.com
IMI's armor solutions are on display at IMI stand #3624, at the Annual AUSA
Convention in Washington, DC October 4-7, 2009.
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.aoa-usa.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
repurchases 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.
CONTACT:
Victor Allgeier
TTC Group
(646) 290-6400
Email Contact
Jonathan Whartman
MDT Armor
(866) 325-6963
Email Contact
Avi Shechter
IMI Services USA
(301) 215-4800
Email Contact
