RADA Receives First Breakthrough and Strategic $8 Million Order for US Military
August 16 2017 - 7:00AM
RADA Electronic Industries Ltd. (NASDAQ:RADA) today announced it
has received a strategic first order for dozens of Multi-Mission
Hemispheric Radars (MHR). The order is highly significant for RADA,
totaling over $8 million and will be delivered during 2017.
The radars will be used by a key US military
force, providing it with air surveillance with emphasis on
counter-UAV with the most advanced on-the-move capabilities. The
radars are expected to be fielded for operational use soon after
delivery.
Dov Sella, RADA’s CEO,
commented, "This is a true breakthrough and highly
significant order for RADA. Furthermore, strategically, it is our
first delivery to a key US military customer, with potential for
further orders down the road. We have been awarded with this order
following long, demanding and detailed trials, as would be expected
for a key defense application, proving the superiority of our
radars in the increasingly important field of counter-UAV
warfare.”
Mr. Sella continued, “While
this initial win has potential for additional orders with this
particular force, we also see further potential with other US
military forces. This program signals the initial fruits of
success of our strategy, focusing our technology on the US military
and other world leading advanced defense forces, which are in need
of tactical, on-the-move surveillance and protection solutions for
the maneuver forces.”
About RADA’s Multi-Mission Hemispheric
Radars
RADA’s Multi-Mission Hemispheric Radars (MHR)
are S-band, software-defined, pulse-Doppler, active electronically
scanned array (AESA) radars. The radars introduce sophisticated
beam forming capabilities and advanced signal processing, which can
provide for various missions on each radar platform and demonstrate
an unprecedented performance-to-price ratio. The radars are compact
and mobile, enabling multiple-missions on each radar, and work
while on-the-move. RADA has sold over 300 radar systems to-date, to
various global defense customers.
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 and Avionics Systems
(including Inertial Navigation Systems) for fighter aircraft and
UAVs.
Company Contact:
Gil Schwartz (VP, BD & Marketing)
Tel: +972-9-892-1111
mrkt@rada.com
www.rada.com
Investor Relations Contact:
Ehud Helft/Gavriel Frohwein
GK Investor & Public Relations
Tel: +1 646 688 3559
rada@gkir.com
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