Arotech Corporation (Nasdaq: ARTX) unit FAAC Inc., won a $12.8 million subcontract for Mobile Training Facilities (MTF) as part of the US Army's Common Driver Trainer (CDT) Program.
Science Applications International Corporation (SAIC) (NYSE: SAI), is the prime contractor for the Army's Common Driver Trainer (CDT) program, and FAAC's subcontract covers the design and development of a mobile, trailer-mounted, solution for CDT and the production of thirteen units. SAIC will add the capability for Mine Resistant Ambush Protected (MRAP) training prior to fielding
FAAC is part of Arotech's training and simulation division. Arotech's training and simulation division develops, manufactures, and markets simulation based training solutions for engineering, use-of-force, and driver training simulations for military, law enforcement, security, municipal and private industry personnel
Shares in Arotech closed yesterday at $1.41, giving a market cap of $20.04 million. The shares have more than tripled from $0.41 at the end of 2008.
Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2009
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