24th Feb 2014 10:54
LONDON (Alliance News) - SimiGon Ltd said Monday that it had entered into a joint venture with Chinese aviation services company Yantai Lan Hai Heng Chuang Zhi Neng Jiao Tong Ke Ji You Xian Gong Si, to provide its SIMbox licenses to enable the joint venture to produce training systems.
The initial value of the contract is USD750,000, and will improve revenue visibility for the year ended December 31 2014.
SimiGon produces training simulation technology.
"We have entered in to this agreement because we believe the market has great potential and we are delighted to be working alongside strong and visionary partners who have a clear vision of how our technology can leverage their current and future businesses," said Chief Executive Officer and President of SimiGon Ami Vizer in a statement.
Shares in SimiGon were trading up 5.0% at 31.76 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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