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Alliance News Detail


SimiGon Gets Contract Extension In Colombia, Already Factored In

[ 17 Jun 2015 09:51 ]

LONDON (Alliance News) - SimiGon Ltd Wednesday said is has signed a new technical support agreement with Corporacion de Alta Tecnologia para la Defensa, a Colombian training and simulation company, although the value of the deal had already been factored into SimiGon's 2015 financial expectations as it's an industrial offset agreement.

Codaltec was formed in August 2012 by the Colombian government to meet the defense sector's needs, including training and simulation. SimiGon provided it with its SIMbox training and simulation technology platform.

Under the new deal, SimiGon will provide additional technical support services, as part of an industrial offset agreement. The value of the contract was already factored into management's expectations for 2015.

SimiGon shares were down 4.3% at 20.10 pence Wednesday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1

Copyright 2015 Alliance News Limited. All Rights Reserved.


SimiGon Gets Contract Extension In Colombia, Already Factored In - Alliance News

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