RADA Electronic Industries Receives a US$1.0 Million Purchase Order From European Defense Company
Nov 28, 2006 9:00:00 AM
NETANYA, Israel, November 28 /PRNewswire-FirstCall/ -- RADA Electronic Industries Ltd. (NASDAQ: RADI), announced today that it has received two purchase orders with total value of over US$1.0 million from a renowned European defense company to manufacture advanced solid state recorders for an airborne system. These purchase orders followed a development contract of over $1 million as part of a long term agreement between the companies.
Commenting on the orders, Zvika Alon RADA V.P Business Development said "the solid state recorder is one of our new developments that is beginning to give their production fruits. We are confident that additional orders will follow this one in the near future".
The solid state recorder is a high capacity, high read/write speed mass memory unit that is used to store and retrieve data in the airborne system.
About RADA
RADA Electronic Industries Ltd. is an Israel based company involved in the military and commercial aerospace industries. The Company specializes in Avionics systems (Digital Video Recorders, Ground Debriefing Stations, Stores Management Systems, Flight Data Recorders, Inertial Navigation Systems), Trainers Upgrades, Avionics systems for the UAV market, and Electro optic cameras for airplanes and armored 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.
Company Contact:
Zvika Alon (V.P Business Development)
Tel: +972-9-892-1111
alon_zvika@rada.com
SOURCE Rada Electronic Industries Ltd
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Company Contact: Zvika Alon (V.P Business Development)
Tel: +972-9-892-1111
alon_zvika@rada.com
