Rada Electronic Industries Ltd,
NETANYA, Israel: RADA Electronic Industries Ltd. announced today that it was selected by the Israeli Ministry Of Defense (IMOD) to replace the aging Israeli Air Force (IAF) F-15 Head Up Display Cameras with RADA's state of the art “Eye Witness” color video camera.
Initial order value exceeds $330,000 with deliveries scheduled for the first half of 2007. Additional orders to complete the whole IAF F-15 fleet upgrade are expected during 2007.
Commenting on the contract, Major General (Res.) Herzle Bodinger, RADA President and CEO said “We are proud to be the provider of airborne cameras to the IAF front line fighters. This contract increases the install base of RADA products in the IAF to the F-15 as well.
RADA Electronic Industries Ltd. is an Israel based company involved in the military and commercial aerospace industries, with 110 staff. The company specializes in Avionics, Ground Debriefing Stations (Video, ACMI and Maintenance) and Automatic Test Equipment.
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 Reports on Form 20-F and other filings with the Securities and Exchange Commission.
