SimiGon receives final approval for $2m Israeli Air Force order
SimiGon Ltd. (DI)
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16:09 04/04/22
Modelling, simulation and training solutions provider SimiGon has now received final regulatory approval for a $2m purchase order received from the Israeli Air Force, initially announced on 20 June 2016, it confirmed on Friday.
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The AIM-traded firm had reported in its interim results on 25 September that the approval processes in respect of the contract had been subject to ongoing procedural delays.
Delivery was expected to be over a 14 month period, with recognition of related revenues commencing upon delivery of the first contract milestone, which was expected to be before the end of the 2017 financial year.
The contract is for the provision of F-16 maintenance simulation based training systems to the IAF's technician school in Haifa.
SimiGon said the client-server system would support 60 trainees annually, with each trainee having a personal workstation allowing them to learn avionics and front-line maintenance, with the support of a virtual instructor for a self-paced syllabus in a fully immersive, virtual environment.
“We are pleased to have concluded the final regulatory hurdles for this strategic contract, which further solidifies our position as a leading technology partner to our core market of global military organisations,” said SimiGon president and CEO Ami Vizer.
“This contract, in the maintenance training domain, is a new, lucrative vertical for SimiGon and will provide us with the experience and credentials to leverage for similar new business opportunities in other regions and other sectors.
“We are proud to play a major role in the IAF's new maintenance training vision and we are looking forward to extending our solution and concept to meet other training needs of the IAF.”