Rochester,NY 7/7/2009 9:25:45 PM
Morning Movers - ARTX -Arotech Announces $3 Million in Battery and Charger Orders - Sourced WhisperFromWallStreet.com
Arotech Corp
Morning Movers - ARTX -Arotech Announces $3 Million in Battery and Charger Orders - Sourced WhisperFromWallStreet.com
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Arotech Corp.ARTX
After Hours: 1.71 Down 0.03 (1.72%) 10:04am ET
Arotech Corporation (NASDAQ:ARTX - News), 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 orders totaling over $3 million for Lithium-Ion primary and rechargeable batteries, chargers and battery components. The batteries are used for communication and night vision equipment. The chargers will be used for unmanned air vehicles and the battery components are custom State of Charge Indicators.
"The orders confirm our world-wide customers' continued satisfaction with our range of Mil-Spec rechargeable battery solutions," said Robert S. Ehrlich, Chairman and CEO of Arotech Corporation. "We are encouraged by the steady and gradual penetration of rechargeable batteries into the militaries worldwide," concluded Ehrlich.
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 engages in the development, manufacture, and marketing of defense and security products and services worldwide. It operates in three divisions: Training and Simulation, Armor, and Battery and Power Systems. The Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for use-of-force training and driving training for the U.S. military, federal and local government, municipal transportation departments, and public safety groups. This division provides simulators, systems engineering, and software products for training to vehicle operators of cars and trucks; weapon simulations for air-combat training; and specialized ?use of force? training for police, security personnel, and the military. The Armor division manufactures aviation armor and armor vehicles. This division uses lightweight armoring materials, special ballistic glass, and advanced engineering processes to armor military and civilian sport-utility vehicles, buses, and vans; and provides ballistic armor kits for rotary and fixed wing aircrafts, marine armors, and specialized personal armors. The Battery and Power Systems division develops and sells rechargeable and lithium batteries, and smart chargers to the military and private defense industry in the Middle East, Europe, and Asia; develops, manufactures, and markets primary lithium and zinc-air batteries and battery chargers for the military; and produces water-activated lifejacket lights for commercial aviation and marine applications. The company was formerly known as Electric Fuel Corporation and changed its name to Arotech Corporation in 2003. Arotech Corporation was founded in 1990 and is based in Ann Arbor, Michigan.
Last Trade: 22.43
Day's Range: 22.40 - 23.14
52wk Range: 12.01 - 83.81
Volume: 283,566
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