RADA Electronic Industries Received Orders for Various Avionics Systems With Total Value of $2.5M
October 07 2015 - 8:30AM
RADA Electronic Industries of Netanya, Israel
(NASDAQ:RADA) announced today that, during the third quarter of
2015, the company has received multiple follow-on production and
maintenance orders for various avionics systems installed onboard
manned and un-manned aircraft, with a total value of $2.5M. These
orders are on top of previous announcements made during the
quarter.
The orders were placed by RADA’s long-term avionics
systems customers, including Israel Aircraft Industries, Hindustan
Aeronautics Ltd, Embraer Defense & Security, and the Israeli
Air Force.
Adding the $1.5M order for UAV avionics announced
in July 2015, brings the total value of avionics systems’ new
orders, received during the third quarter of 2015, to over $4M.
Zvi Alon, RADA’s CEO, commented: “These repeated
orders emphasize the long-term strategic relations we have
established with leading domestic and worldwide aerospace
industries. We continue to maintain a stable stream of revenues
from our avionics product line and expect these products will
remain in production for the following years.”
About RADARADA Electronic
Industries Ltd. is an Israel-based defense electronics contractor.
The company specializes in the development, production, and sale of
tactical land radar systems for force and border protection,
inertial navigation systems for air and land applications, and
avionics systems and upgrades.
Contact Details:
RADA
Dov Sella (CBDO)
Tel: +972-9-892-1111
mrkt@rada.com
www.rada.com
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