BVR Systems wins air combat training contract
The training system has already been chosen by 18 air forces.
Shiri Habib 7 Jan 08 14:31
BVR Systems (1998) Ltd. (Bulletin Board:BVRSF.OB) continues to win contracts, today announced the award of a contract, valued at $18.4 million from an unnamed international customer. The contract is for the provision of the firm's EHUD Air Combat Maneuvering Instrumentation (ACMI) system. The EHUD ACMI system is an air-to-air and air-to-ground mission training and debriefing system. The EHUD system will be used for real time, autonomous networked combat training and debriefing. The contract includes the provision of new EHUD ACMI pods, as well as interoperability with the existing BVR-supplied system already in service with this Air Force. 18 air forces across the world have chosen the EHUD system. BVR Systems’ CEO, Ilan Gillies commented: “The new award is our first order for the year 2008. It follows a company announcement in early November 2007 of another ACMI system contract award valued at $19.5 million. BVR concluded 2007 with new booked orders valued at $42 million, a substantial growth over 2006.” Rosh Ha'ayin-based BVR, a bulletin board-traded stock, has a market cap of $20 million. In the third quarter of 2007 it recorded revenue of $2.7 million, of which 96% was from equipment sales, and the remainder was from royalties.
Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2008
