NETANYA, Israel, March 30, 2017 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (Nasdaq: RADA ) announced today that it has signed a strategic, value-added distribution agreement with a leading Western-European air defense systems provider, that markets and sells its systems to NATO countries and other global customers. Per this agreement, RADA's tactical radars will be integrated into the company's Very Short Range Air Defense (VSHORAD) systems, with special focus on counter-UAV/drones, and will be offered to the end-users as part of end-to-end solutions to address these threats.
The selection of RADA's radars by this particular company for its VSHORAD systems and other active-defense solutions, was made after 18 months of intense integration and testing efforts, which proved the superiority and cost-effectiveness of RADA's radars over other existing alternatives in the market.
Dov Sella, RADA’s CEO , commented: "The need for counter-drone solutions for military forces is evident and urgent; both NATO including US forces are in the process of intensively testing such solutions, and fielding of these systems is commencing. In addition, such systems are also required for the protection of critical infrastructure under homeland security initiatives. We anticipate that this strategic agreement will very much strengthen and increase RADA's potential sales to these large as well as emerging markets in the near future."
RADA’s Multi-Mission Hemispheric Radar (MHR) and Compact Hemispheric Radar (CHR) are S-band, software-defined, pulse-Doppler, active electronically scanned array radars. The radars introduce sophisticated beam forming capabilities and advanced signal processing, which can provide various missions on each radar platform and offer an unprecedented performance-to-price ratio. The radars are compact and mobile, enabling multi-missions on each radar, and work while on-the-move. RADAR has sold over 150 radars so far, to various global customers and for several applications/missions.
About RADA
RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. The Company specializes in the development, production, and sales of Tactical Land Radars for Force and Border Protection, Inertial Navigation Systems and Avionics Systems for fighter aircraft and UAVs.
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: Gil Schwartz (VP, BD & Marketing) Tel: +972-9-892-1111 mrkt@rada.com
