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Taotekingon Feb 04, 2009 11:29am
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OT AIQ - huge news out - 17 billion $ market
OT AIQ - huge news out - 17 billion $ marketLow float
NEWS RELEASE PAGE
Headline: Atlantis Systems qualifies for contractor status under new US Army procurement program
Symbol: AIQ
- Qualification opens up new opportunities for U.S. subsidiary -
TORONTO, Feb. 4 /CNW/ - Atlantis Systems Corp. (TSX: AIQ) today announced that its wholly owned subsidiary, Atlantis Systems America, Inc. (ASA), has been qualified by the US Army Program Executive Office for Simulation, Training and Instrumentation as a contractor under STOC II, a 10-year Indefinite-Delivery/Indefinite-Quantity (ID/IQ) contracting vehicle. This gives ASA the opportunity to pursue, bid, win, and execute contracts with the US Army in support of their training products and services requirements that are released against STOC II.
STOC II, valued at US$17.5 billion over the next 10 years, serves as an efficient contracting vehicle in order to quickly get the next generation of simulation and training products and services into the hands of U.S. and coalition service members.
"Achieving ID/IQ contract status with the US Army is an important achievement and reflects ASA's solid military track record," said Henrik Noesgaard, CEO of Atlantis Systems. "It positions ASA to win new business and extends the Special Security Agreement between ASA and the Defense Security Service, which increases the security position of the company, thereby enhancing its ability to capture similar future awards."
About Atlantis Systems Corp.
Atlantis Systems (TSX: AIQ) uses its core capabilities in simulation-aided design and engineering and e-learning, combined with various technology tools, to help customers in military aviation, civil aviation and nuclear energy ensure the feasibility, capability, and effective utilization of their complex assets. In more than 30 years of operation, Atlantis has developed a solid reputation for its creative workforce and innovative solutions in supporting global OEM customers and defence organizations. To learn more, please visit the Company's web site at www.atlantissi.com.
Forward-Looking Statements