SimiGon Limited Further Contract (9516D)

TIDMSIM

RNS Number : 9516D

SimiGon Limited

15 October 2018

SimiGon Ltd

("SimiGon" or "the Company")

United States Air Force adds additional SimiGon support services for T-6A simulators

SimiGon, (LSE: SIM), a global leader in modelling, simulation and training solutions, is pleased to announce that the United States Air Force (USAF) has executed a contract amendment (the "Contract Amendment") to add additional support services for the sixteen T-6A Level 5 Flight Training Devices (FTD) under the Contractor Logistics Support contract for SIMbox-based T-6A Level 5 FAA Compliant FTD announced 7 February 2018.

Under the Contract Amendment SimiGon will provide maintenance support personnel to help with the ongoing upkeep of the FTD's currently used by the USAF under the existing Contract. The Contract Amendment increases the total Contract value by $0.5 million through 30 April 2019. The expected revenue from this Contract was already factored into management's expectations for the year ended 31 December 2018. The Contract Amendment is expected to improve revenue visibility for FY 2019.

The Company's growing T-6A training support services business demonstrates the end user's high regard for SimiGon's ability to support and maintain the FTDs. The training devices support thousands of training events annually for the USAF's Undergraduate Remotely Piloted Aircraft Training program.

SimiGon President and CEO, Ami Vizer, said: "This Contract Amendment is testimony to our hard work in keeping all sixteen training devices fully serviced and available in a very demanding, fast paced training environment. It also demonstrates the USAF's confidence in our products and we look to continue growing the services business within USAF and other Government customers."

Enquiries:

 
 SimiGon Ltd 
 Ami Vizer, Chief Executive Officer          [phone] 
 Efi Manea, Chief Financial Officer 
 
 finnCap (NOMAD & Broker)                    [phone] 
 Henrik Persson/Matt 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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October 15, 2018 02:00 ET (06:00 GMT)