FARNBOROUGH, England, July 19 /PRNewswire-FirstCall/ -- RADA Electronic
Industries Ltd. (Nasdaq: RADI) announced today that it has received a P.O.
from a strategic customer to provide various avionics systems to an
Unmanned Aerial Vehicle. Contract value, which exceeds $1,270,000, covers
development and supply of prototype units.
This contract further increases the number of avionics units provided
by RADA to various advanced UAV programs and positions RADA as a major
supplier of UAV avionics.
Commenting on the contract, Major General (Ret.) Herzle Bodinger,
RADA's CEO said, "We are proud to be one of the main providers of avionics
units to modern UAVs, both in Israel and in the world."
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:
Elan Sigal (Chief Financial Officer)
Tel: +972-9-892-1129
elan_sigal@rada.com
SOURCE RADA Electronic Industries Ltd.
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CONTACT: Elan Sigal (Chief Financial Officer), Tel: +972-9-892-1129, elan_sigal@rada.com
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