Arotech to Combine Its Power Systems Division's U.S. Facilities Into One Location in South Carolina
Arotech Corporation [Nasdaq GM: ARTX] announced today that it will be relocating the operations of its Electric Fuel Battery Corporation (EFB) subsidiary from Auburn, Alabama to Arotech's cutting-edge engineering and manufacturing facilities in Charleston, South Carolina , beginning early in 2015. The South Carolina location is the home base of UEC Electronics, which Arotech acquired in April, 2014. The relocation is expected to be completed by the end of the first quarter of 2015.
This strategic consolidation will provide customers with expanded and comprehensive Energy Storage and Power Management design, integration and manufacturing capabilities. The collaboration will optimize product development to provide a broader range of high performing and affordable power solutions. Noteworthy programs, such as the US Army's SWIPES and the Marine Corps' GREENS and MEHPS, expect to realize continued improvements as a result of this co-location.
"Combining the domestic facilities of our Power Systems Division under one roof will not only enable us to lower overhead costs, it will also allow all parts of the division to better work together and unleash the synergies from the acquisition of UEC earlier this year," commented Steven Esses , President and CEO of Arotech . "Our advanced engineering and manufacturing facility in Charleston, South Carolina was designed for growth and can easily support the additional capacity. We will relocate key employees from Auburn to Charleston , and we look forward to realizing increased growth across our newly unified division over the coming years."
Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates two major business divisions: Training and Simulation, and Battery and Power Systems.
Source: Arotech Corporation
Date: Dec 2, 2014