FATS - New Contract News (Inside)
Thursday November 30, 3:00 pm Eastern Time
Press Release
Firearms Training Systems, Inc. Announces Contract Award From U.S. Air National Guard
SUWANEE, Ga.--(BUSINESS WIRE)--Nov. 30, 2000--Firearms Training Systems, Inc. (OTC: FATS - news) announced today that the U.S. Air National Guard (ANG) recently awarded the Company a contract with an approximate value of $4.1 million.
The contract includes delivery of 50 training simulators for marksmanship, judgmental, tactical and indirect fire training and 496 weapon simulators to be delivered to U.S. Air National Guard sites. Delivery and installation of the items is expected to begin in late December 2000 and will be completed by May 2001.
President and CEO Robert Mecredy remarked that, ``we are particularly proud of the long-standing relationship FATS has enjoyed with the Air Guard for over 10 years. The Company is pleased to provide the latest small arms simulation capabilities to help the Air Guard meet its growing security force requirements.''
FATS is the leading worldwide producer of interactive simulation systems designed to provide training in the handling and use of small and supporting arms. FATS® products also include air defense, anti-armor, and armored vehicle training products, which are designed and manufactured by its Canadian subsidiary, Simtran Technologies, Inc. Commercial versions of FATS® products supporting the sports shooting enthusiast and professional hunter are designed and manufactured by its Colorado-based subsidiary, Dart International, Inc.
Certain of the foregoing information are forward-looking statements regarding future events or the future financial performance of the Company, and are subject to a number of risks and other factors which could cause the actual results to differ materially from those contained in the forward-looking statements. Among such factors including those discussed above are: general business and economic conditions; the Company's success in competing for new contract awards; customer acceptance of and demand for the Company's new products; receipt and delivery of a sufficient level of orders from new and existing customers as well as satisfactory completion of delivery of a sufficient portion of backlog, the Company's overall ability to design, test, and introduce new products on a timely basis; the cyclical nature of the markets addressed by the Company's products; and the risk factors listed from time to time in documents on file with the SEC.
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Contact:
Firearms Training Systems, Inc., Suwanee
John Morelli, 770/622-3337 |
