RADA Signs $2.6 Million Contract with Lockheed Martin to Provide Ground Debriefing Systems
NETANYA, Israel, November 25, 2009 -- RADA Electronic Industries Ltd. (NASDAQ: RADA) has signed a $2.6 Million contract with Lockheed Martin Aeronautics Company (NYSE: LMT) to provide Ground Debriefing Systems for airborne digital video recordings.
RADA’s Ground Debriefing Systems (GDS) are used for post flight debriefings of digital recordings done onboard fighter aircraft. Debriefings include digital video, audio and 3-dimentional flight reconstruction. The airborne recordings are done by RADA’s DVDR, selected 3 years ago by Lockheed Martin.
“Our relationships with Lockheed Martin have been continuously growing over the past few years,” says Zvika Alon, CEO of RADA. “We aim to provide LM Aero with an extremely reliable and affordable family of products, including video and data recorders, airborne data servers and post-mission debriefing systems. We look forward to a prolonged and continuous collaboration.”
Delivery of the Ground Debriefing Systems will be completed during 2010.
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, avionics solutions (Trainer Aircraft Upgrades, Stores Management Systems, Interface Computers) and avionics systems for UAVs.
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.
CONTACTS:
RADA
Dubi Sella (V.P Marketing & Sales)
Tel: +972-9-892-1111
mrkt@rada.com
www.rada.com |
