BVR Systems Wins $6M Contracts for NATO Member Air Force and a $1.6M Follow-On Contract for a Customer in Asia
Sunday September 12, 7:39 am ET
ROSH HA'AYIN, Israel -- BVR Systems (1998) Ltd. today announced the award of two contracts, valued at approximately 6.0 million US dollars, for the provision of EHUD(TM) Air Combat Maneuvering Instrumentation (ACMI) systems for the Air Force of a member NATO, and the award of a follow-on contract for a customer in Asia, valued at approximately 1.6 million US dollars.
The EHUD(TM) ACMI systems will be used for real-time, autonomous combat training and debriefing. The contracts include the provision of new systems as well as the upgrading of existing systems in service for this NATO member Air force. MLM, a division of IAI, which cooperates with BVR in the production of the EHUD(TM) ACMI systems, shall act as BVR's main subcontractor for the project and shall provide components of the system.
BVR Systems' Chairman, Aviv Tzidon, commented: "We are pleased to receive this contract from a NATO member Air Force, which endorses the prime position held by BVR's EHUD(TM) ACMI system, as the top air combat training system in the world today. This new contract emphasizes once again the requirements of the NATO ACMI community for commonality and interoperability within NATO, enhancing the overall training value and operational levels. This award is a tribute to our technological leadership and strong competitive position."
To date, more than 15 leading air forces from four continents, amongst them many NATO countries, have chosen the EHUD(TM) ACMI system.
The EHUD(TM) ACMI system is a complete on-board autonomous training and safety suite, with state-of-the-art post-flight PC debriefing capabilities. The EHUD(TM) rangeless system is designed to enhance the airborne training of fighter pilots on a broad range of missions. It is a highly effective Air-to- Air and Air-to-Ground mission training and debriefing system and its unique patented dynamic data link network provides for a virtually unlimited number of participants. The system's sophisticated safety features include mid-air and ground collision audio warnings, in addition to an extensive rule violation library. BVR's EHUD(TM) is unsurpassed in capability, reliability and maintainability.
In Addition, BVR was awarded a follow-on contract from a customer in Asia, valued at $1.6M. The program calls for the provision of Integrated Logistic Support services for a period of three years for a training system that was previously provided by BVR.
BVR Systems (1998) Ltd. is a world leader in advanced defense training and simulation systems. The Company offers highly efficient, cost-effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces. For more information visit the Company's web site at
http://www.bvrsystems.com.
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of BVR only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; decline in demand for BVR's products; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of BVR to differ materially from those contemplated in such forward-looking statements. BVR undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting BVR, reference is made to BVR's reports filed from time to time with the Securities and Exchange Commission.
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