Benzinga | Sep 28, 2021 04:08PM EDT

AeroVironment Subsidiary Telerob Bags Multi-Million Dollar Unmanned Ground Vehicle Order

* AeroVironment, Inc. (NASDAQ:AVAV) subsidiary, Telerob Gesellschaft f?r Fernhantierungstechnik mbH (Telerob), has received a multi-million dollar firm-fixed-price order from the Latvian Ministry of Defense (MoD).

* The order encompasses the procurement of telemax EVO HYBRID and tEODor EVO unmanned ground vehicles (UGVs) and engineering support to the Latvian National Armed Forces.

* The company expects to complete the delivery in late 2021.

* The tEODor EVO is purpose-built for explosive ordnance disposal and disarming improvised explosive devices. The telemax EVO HYBRID is a versatile UGV with compact dimensions and a lift capacity of up to 82 pounds (37 kilograms).

* Price Action: AVAV shares closed lower by 0.12% at $86.15 on Tuesday.