Arotech Announces $2.5 Million Battery Orders for Portable Military Equipment; Backlog up 10% During the Third Quarter, to $46.9 Million.ANN ARBOR Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich. -- Arotech Corporation (NasdaqGM:ARTX), a provider of quality defense and security products for the military, law enforcement and security markets, announced today that its battery and power systems division has received $2.5 million in additional primary and rechargeable battery A rechargeable battery, also known as a storage battery, is a group of two or more secondary cells. These batteries can be restored to full charge by the application of electrical energy. orders from various countries for portable military equipment. The orders include a combination of Lithium Ion A rechargeable battery technology introduced in 1991 that provides greater charge per pound than nickel metal hydride. In 1993, Toshiba introduced the first notebook in the U.S. with a Li-ion battery. , Zinc Air A battery technology that provides more charge per pound or size than nickel cadmium or nickel metal hydride and does not suffer from the memory effect. It uses a carbon membrane that absorbs oxygen, a zinc plate and potassium hydroxide as the electrolyte. and Nickel Metal Hydride (NiMH) A rechargeable battery technology that has approximately 30-50% more charge per pound than nickel cadmium. Introduced in the early 1990s, it uses nickel and metal hydride plates with potassium hydroxide as the electrolyte. batteries that will be used to power night vision and communications equipment for military personnel. Delivery is expected to begin this year and will be completed in 07. "We are delighted the demand for our rechargeable products continues to be strong and are excited about new opportunities these next generation technologies provide the Company," said Robert S. Ehrlich, Arotech Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We will continue our commitment to develop advanced solutions that present an effective means for nurturing the future of the primary and rechargeable battery markets." Ehrlich also noted that "Arotech's backlog continued at a record pace, surpassing $46.9 million, compared with $42.5 million at June 30, 2006, an increase of 10%. A substantial portion of this backlog is expected to be shipped during the current fiscal year." 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 US 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, Electric Fuel Ltd., and Epsilor Electronic Industries Ltd. About Arotech Corporation Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States markets, including multimedia interactive simulators/trainers, lightweight armoring and advanced zinc-air and lithium batteries and chargers. Arotech operates through three major business divisions: Armor, Simulation and Training and Battery and Power Systems. Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan  “Ann Arbor” redirects here. For other uses, see Ann Arbor (disambiguation). Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. , 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including the results of our restructuring program. 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 relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc : 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2005, as amended, 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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