|By Business Wire||
|August 30, 2012 09:15 AM EDT||
Aura Systems, Inc. (OTCBB: AUSI) announced today that it received the next release from South Korea for 100, 5 kW AC VIPER systems for the MMV-program. The systems are scheduled for delivery by the end of September 2012. This brings the total delivered under this 10 year, 1,000-system contract to 620.
Aura also received a release for 20 3-phase 220VAC systems for the previously announced NRRS program to be delivered over the next 60 days. This brings the total delivered under this program to 62 out of 132 total systems to be delivered.
Aura now has confirmed orders for 2,137 systems for the South Korean military spread over 7 different programs valued at approximately $13 million. In addition, as previously announced the AuraGen/VIPER was selected for a South Korean military program that would require up to 7,000 systems valued at $63,000,000.00 to be delivered over a seven-year period at the rate of 1,000 per year.
Mr. Melvin Gagerman, Aura’s CEO said, “Our business with the South Korean military is expanding as we are being integrated into a numerous programs. Our backlog for South Korea is now over 76 million to be delivered over the next 7 years, and we also expect the MSV-contract for 500-1,000 systems per year to be awarded sometime in the next 6 months. In addition to the South Korean military we have started to ship small quantities of the VIPERs to Israel, UK, France, and Singapore. We recently also established distribution channels for military programs in the Philippines, Malaysia, Turkey and Indonesia.”
For more information on Aura Systems Inc. visit www.aurasystems.com.
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Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.