RADA Receives $1.1M in Initial Radar Orders from a Highly Strategic Asian Customer
November 30 2016 - 8:00AM
RADA Electronic Industries Ltd. (NASDAQ:RADA) today announced that
it has received initial purchase orders to provide its advanced
Multi-Mission Hemispheric Radars (MHR) to a highly strategic Asian
customer. The value of these orders are over $1.1 million, and
deliveries are expected to be completed within the first half of
2017.
The customer has placed initial orders with RADA
for operational evaluation of the radars and immediate gap filling.
The market potential for such tactical radars to this customer is
expected to be very significant.
The orders are for various operational
applications, which demonstrate the range of missions and
flexibility of RADA's radar technology: detection of fires, drones,
surface targets, and combinations of these missions. RADA’s
MHR radar platform is technologically advanced using an S-band,
software-defined, Pulse-Doppler radar with active electronically
scanned array (AESA) antenna and the most advanced GaN amplifiers.
These compact, multi-mission radars offer an unprecedented
performance-to-price ratio and are ideal solutions for force and
border protection needs.
Dov Sella, RADA's CEO, commented: "We have
invested years of focused marketing activity and demonstrations to
this highly valued customer. We are very pleased that our efforts
have come to fruition with the receipt of these initial orders. We
anticipate that the ongoing near-term usage of our radars will more
than prove their viability to the customer, and will pave the way
for significant future orders".
About RADA
RADA Electronic Industries Ltd. is an Israel-based defense
electronics contractor. The Company specializes in the development,
production, and sales of Tactical Land Radars for Force and Border
Protection, Inertial Navigation Systems for air and land
applications, and Avionics Systems and Upgrades.
Certain statements in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Act of 1995. Such statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results to differ materially. Such risk uncertainties and
other factors include, but are not limited to, changes in general
economic conditions, risks in product and technology developments,
market acceptance of new products and continuing product demand,
level of competition and other factors described in the Company's
Annual Report on Form 20-F and other filings with the Securities
and Exchange Commission.
Company Contact:
David Mayer (BD Director)
Tel: +972-9-892-1111
mrkt@rada.com
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