SUWANEE, Ga., July 19 /PRNewswire/ -- FATS Inc., the leader in high- quality simulation systems and training solutions for military organizations around the world, today announced it has been awarded a contract from Lockheed Martin to upgrade portions of the U.S. Marine Corps Virtual Combat Convoy Trainer.
The $1 million contract calls for upgrading six of the Marine Corps' VCCT trainers from 225-degree to 360-degree field-of-view systems. The upgrades are expected to be completed in September 2006. This is the first end-user upgrade of its kind to the VCCT system.
"We are pleased to again have the opportunity to work with Lockheed Martin to assist the Marines with their training," said Ron Mohling, chairman and chief executive officer, FATS. "The new VCCT system upgrades will provide greater realism through an immersive, 360-degree synthetic environment, which will better prepare our troops for real-world combat situations."
Lockheed Martin's Close Combat Tactical Trainer and FATS' Small Arms Trainer, Indirect Fire Trainer and Close Air Support Trainer comprise the VCCT, resulting in a comprehensive training system, which prepares troops for convoy operations in hostile environments.
Incorporating a full-scale Humvee, realistic computer imaging and a simulation system that replicates combat scenarios troops might encounter, the VCCT is designed to improve the convoy crew's ability to identify and react to threats. It enables them to communicate, maintain situational awareness and acquire targets while moving through the synthetic environment. Troops gain familiarity with objective terrain conditions and realistically demonstrate the procedures they may employ under combat conditions.
FATS and Lockheed Martin first joined forces in 2004 to create one of the first suites of Virtual Combat Convoy Training systems for the U.S. Army.
About FATS Inc.
FATS Inc., a subsidiary of Firearms Training Systems Inc. , is a leading technology company providing fully-integrated, simulated training to professional military and law enforcement personnel. Utilizing quality engineered weapon simulators, FATS' state-of-the-art virtual training solutions offer judgmental, tactical and combined arms experiences. The company serves domestic and international customers from its headquarters in Suwanee, Ga. and has branch offices in Australia, Canada, the Netherlands and United Kingdom. The ISO-certified company was founded in 1984. For more information, visit http://www.fatsinc.com/.
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin employs approximately 135,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Please visit http://www.lockheedmartin.com/ for more information.
Except for financial information contained in this press release, the matters discussed may consist of forward-looking statements under the Private Securities Litigation Reform Act of 1995. The accuracy of the forward-looking statements, including statements regarding future events or the future financial performance of the company, is necessarily 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. When used in this release, the words "believes," "estimates," "plans," "expects," "should," "will," "may," "might," "anticipates" or similar expressions as they relate to the company or its management are intended to identify forward-looking statements. The company, from time to time, becomes aware of rumors concerning the company or its business. As a matter of policy, the company does not comment on rumors. Investors are cautioned that in this age of instant communication and Internet access, it may be important to avoid relying on rumors and unsubstantiated information regarding the company. The company complies with federal and state law applicable to disclosure of information concerning the company. Investors may be at significant risk in relying on unsubstantiated information from other sources.
