CORRECTING and REPLACING – RADA Announces $5 million in Radars Orders
October 10 2018 - 8:57AM
These orders are new sale penetrations at
strategic defense customers
RADA Electronic Industries Ltd. (NASDAQ: RADA)
announced the receipt of approximately $5 million in new radar
orders, in recent weeks.
The orders were for RADA’s software-defined
radars for counter rocket artillery and mortar (C-RAM) and counter
UAV and short range air defense (SHORAD). All orders were from new
and strategic customers. These new customers are leading defense
organizations and represent initial sales from which RADA expects
significantly greater further follow-on orders in the future.
Deliveries of these orders will be completed in
2018.
Dov Sella, RADA’s CEO,
commented, "These are the result of the growing fruits of
our ongoing business development efforts globally. The fact that
these orders represent an initiation penetration of new customers,
it also brings with it a strong potential for future orders at a
much greater scale. The market for our tactical radars is new and
very much in the emerging phase, and the early orders we have sold
in the past year across our customer base present significant
potential for follow-on orders in the near future.”
About RADA
RADA Electronic Industries Ltd., an Israel-based
defense electronics 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.comwww.rada.com |
Investor Relations Contact:GK Investor
RelationsEhud Helft/Gavriel FrohweinTel: 1 646 688
3559rada@gkir.com |
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