SimiGon Limited Contract Win
19 December 2018 - 6:00PM
RNS Non-Regulatory
TIDMSIM
SimiGon Limited
19 December 2018
SimiGon Ltd
("SimiGon" or "the Company")
Strategic European customer awards SimiGon additional
contract
SimiGon Limited (LSE: SIM), a global leader in providing
simulation training solutions, is pleased to announce that it has
further expanded its long-term relationship with a major existing
European customer (the "Customer").
The contract award is for SimiGon to provide its SIMbox
Commercial Off the Shelf training and simulation development
platform and delivery environment for its new research &
development lab at the Customer's facility (the "Contract"). The
Customer will use SIMbox technology as the technology baseline for
its Academic Training Centers ("ATC").
Under the Contract announced today, valued at US$0.92 million,
SimiGon has successfully increased the use of SIMbox in the
additional programs across the Customer's organization. The
expected revenue from this Contract was already factored into
management's expectations for the years ended 31 December 2018 and
2019.
SIMbox-based training solutions will be used to design, develop
and implement advanced training for flight crew and maintenance
staff, for basic, advanced and recurrent training. The SIMbox
Training Management System will allow the ATC to deploy the content
and monitor user performance. The embedded virtual instructor
capability will ensure dynamic, highly interactive, personalized,
cost-effective training solutions that reduce the cost of real
flights, flight instructor hours and help prevent aviation
mishaps.
SimiGon President and CEO, Ami Vizer, said: "We continue to
develop our relationship with this key partner. This latest
contract is clear proof of the market's need for our advanced
technology and its continuous adoption by major training
organizations worldwide. We appreciate the client's confidence in
our COTS products and look forward to continuing our close business
relationship".
Enquiries:
SimiGon Ltd
Ami Vizer, Chief Executive Officer +1 (407) 951 5548
Efi Manea, Chief Financial Officer
finnCap (NOMAD & Broker) +44 (0) 20 7220 0500
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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END
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