5 May 2015 07:02
5 May 2015
SimiGon Ltd
("SimiGon" or the "Company")
SimiGon awarded 5 year T-6 Simulator logistics support contract from US Air Force
SimiGon, Inc. (LSE: SIM), a global leader in modeling, simulation & training solutions, is pleased to announce that it has been awarded a five year Contractor Logistics Support ("CLS") contract by the U.S. Air Force Air Education Training Command ("AETC") to support and maintain all of the T-6A training simulators used in the training of all Remote Piloted Aircraft ("RPA") students.
The first year base value of the contract is $0.33 million with a total contract value of $1.66 million over an expected period of five years. The revenue contribution from this contract was already factored into management's expectations for the year ended 31 December 2015. It will also contribute to improved revenue visibility for FY 2016 and beyond.
This contract is an extension on our original contract announced in September 2011, when SimiGon were selected as the prime contractor and successfully delivered its SIMbox based T-6A training systems. The SIMbox Modular Training Devices simulators are used to train undergraduate RPA students for Pilot Instrument Qualification training.
SimiGon's successful entry into the T-6 training market solidified its market leading offering and positions the Company for similar opportunities globally as the T-6A and T-6B are used as basic trainers in militaries around the globe.
SimiGon President & CEO, Ami Vizer, said: "We are excited to be awarded this contract which builds on executing delivery and performance of our systems as a prime contractor for the U.S. Air Force since September 2011. This contract further strengthens our position of working with valuable global partners as a supplier of choice in the provision of simulation training solutions while, at the same time, demonstrating that SimiGon has the capability to develop and support the unmanned aircraft training sector which is a rapidly growing segment worldwide."
Enquiries:
SimiGon Ltd Ami Vizer, Chief Executive Officer Efi Manea, Chief Financial Officer www.simigon.com
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