RADA Electronic Industries Ltd. has Signed a $1M Contract to Deliver Advanced Video...
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RADA Electronic Industries Ltd. has Signed a $1M Contract to Deliver Advanced
Video Recording and Debriefing Systems for the Chilean Air Force
NETANYA, Israel, April 6, 2010 (GLOBE NEWSWIRE) -- RADA Electronic Industries
Ltd. (Nasdaq:RADA) announced today that it has signed a $1.0 Million contract
with the Chilean Air Force (FACH) to produce and deliver its advanced airborne
video and data recording system as well as ground debriefing systems for
installation onboard FACH F-16 aircraft. The contract was signed during the
FIDAE 2010 International Air and Space Fair at Santiago de Chile.
Recording and Debriefing systems are part of RADA's current most-selling
products worldwide and is in production for several years now. The Chilean Air
Force has selected these RADA products to equip all its front-line fighter fleet
and has been purchasing RADA's recording and debriefing systems for several
years.
Deliveries will be completed during the first half of 2011.
Zvi Alon, RADA's CEO, commented on this purchase order: "We are proud to provide
our leading video recording and debriefing systems to FACH, one of the advanced
air forces in Latin America. This agreement reinforces the confidence of the
market in RADA's advanced recording solutions".
About RADA
RADA Electronic Industries Ltd. is an Israel based defense electronics
contractor. The Company specializes in Data Recording and Management (Digital
Video & Data Recorders, Ground Debriefing Stations, Head-Up Display Cameras),
Inertial Navigation Systems for air and land applications, Avionics Solutions
(Aircraft Upgrades, Avionics for UAVs, Stores Management Systems, Mission &
Interface Computers) and Radar Sensors for active protective systems for land
vehicles.
Note: 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.
CONTACT: RADA Electronic Industries Ltd.
Dubi Sella, V.P Marketing & Sales
+972-9-892-1111
mrkt@rada.com
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