SimiGon Limited Contract Win

TIDMSIM

SimiGon Limited

26 September 2018

SimiGon Ltd

("SimiGon" or "the Company")

SimiGon wins $1.1 million dollar contract with the Israeli air force for T-6A training devices

SimiGon (LSE: SIM), a global leader in modelling, simulation and training solutions, is pleased to announce that it has received a $1.1 million contract from the Israeli Air Force ("IAF") to provide SIMbox-based T-6A Simulation Based Trainers to the IAF Flight Academy (the "Contract").

The Contract for the new trainers is a progression of SIMbox Ground Based Training Systems (GBTS) for other platforms in the IAF inventory, including the M-346 Advanced Jet Trainer (AJT). This Contract solidifies SIMbox as the IAF's major training technology platform for its aircrew and maintainer academies.

The Contract includes the procurement of SIMbox-based T-6A training devices in a fully immersive, Virtual Reality ("VR") environment. Up to 4 systems will be delivered in the first phase, enabling students to train through personal stations on most of the aspects of their syllabus. The stations will include high resolution Common Database terrain and VR headsets to support advanced training of Aerobatic, Formation, Navigation and Circuit procedures, together with standard procedural and emergencies training. In the second phase, a Virtual Instructor and a self-paced syllabus using high fidelity 3D simulation will be delivered, providing accelerated, cost-effective training to the IAF cadets.

The Contract is comprised of a 9 month delivery phase followed by a 2 year warranty and support phase. The expected revenue contribution from the Contract has already been factored into management's expectations for the year ended 31 December 2018.

This Contract further strengthens SimiGon's position in the T-6 training market, solidifying 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 receive this Contract and to further support the IAF's T-6A training needs. The continued use of SimiGon's SIMbox products in the IAF's training regime demonstrates its numerous advantages and use as a training tool. We expect this contract to lead to additional business opportunities in the IAF and the wider, fixed wing training market."

Enquiries:

 
 SimiGon Ltd 
 Ami Vizer, Chief Executive Officer             [phone] 
 Efi Manea, Chief Financial Officer 
 
 
   finnCap (NOMAD & Broker)                       [phone] 
 Henrik Persson/Matthew Radley (corporate 
  finance) 
 
 

About SimiGon

SimiGon (AIM: SIM) is a leading developer and supplier of distributed simulation solutions for defence and civilian applications. SimiGon is the creator of SIMbox, a leading PC-based platform for creating, managing and deploying simulation-based content across multiple domains. Through its off the-shelf training solutions for demanding high-skill occupations, SimiGon provides diverse organizations with faster and more cost-effective training. SimiGon's growing client base includes blue-chip training and simulation systems providers as well as air forces and commercial airlines worldwide. Founded in 1998, SimiGon maintains offices in Israel and the United States.

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September 26, 2018 02:01 ET (06:01 GMT)