NETANYA, Israel, January 2 /PRNewswire-FirstCall/ -- RADA Electronic Industries Ltd. (NASDAQ:RADA) has announced today that it has received a $5.9 Million purchase order from the Israeli Ministry of Defense (IMOD) to develop and produce an advanced airborne video and data management system (Video Management System - VMS) for the Israeli Air Force aircraft.
The VMS is the latest generation of RADA's Digital Video Recorders (DVR), which is one of RADA's current most-selling products worldwide and is in production for several years now.
The program additional sales potential to the IMOD/IAF, estimated at over $4.5M, is expected to materialize within the next 4 years.
Zvi Alon, RADA's CEO, commented on this purchase order: "We are proud to provide the IAF with the most advanced solution to airborne video and data management. By selecting RADA, the IMOD has reconfirmed its trust in the company and its advanced and reliable solutions to the IAF needs. We are confident that other air forces worldwide will follow the IAF and enhance the sales potential of this advanced 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 Optronics (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:
Dubi Sella (V.P Marketing & Sales)
Tel: +972-9-892-1111
DATASOURCE: RADA Electronic Industries Ltd CONTACT: Company Contact: Dubi Sella (V.P Marketing & Sales), Tel: +972-9-892-1111,
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