LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
Samsung Electronics Eyes Record Q1 Profit Amid AI-Driven Chip Boom 
UAE's Largest Natural Gas Facility Suspended After Attack-Triggered Fire 
Private Credit Under Pressure: Is a Slow-Motion Crisis Unfolding? 
TSMC Japan's Second Fab to Produce 3nm Chips by 2028 
Elon Musk Ties SpaceX IPO Access to Mandatory Grok AI Subscriptions 
SpaceX IPO: Retail Investors to Play Historic Role in Record-Breaking Public Offering 
Nike Beats Q3 Estimates but China Weakness and Margin Pressure Weigh on Outlook 
Paramount Skydance Secures $24B from Gulf Sovereign Wealth Funds for Warner Bros. Discovery Takeover 
Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal 
Trump Administration Plans 100% Tariffs on Pharmaceutical Imports 
Ford Issues Major Recall on Over 422,000 Vehicles Due to Windshield Wiper Defect 
UPS and Teamsters Reach Agreement to Limit Driver Severance Program 
MATCH Act Targets ASML and Chinese Chipmakers in New U.S. Export Crackdown 
Fonterra Admits Anchor Butter "Grass-Fed" Label Misled Consumers After Greenpeace Lawsuit 
First Western Ship Transits Strait of Hormuz Since Iran War Began 
NETANYA, Israel, Oct. 06, 2016 -- RADA Electronic Industries Ltd. (Nasdaq:RADA) announced today the delivery of its initial RPS-42 based mobile air surveillance system, to the defense forces of an important Asian country.
The contract for the purchase of these systems, which was announced in May 2016, has a value of approximately $2 million. This first delivered system will be integrated and validated on a customer’s tactical vehicle, with deliveries of the rest of this order to follow before year-end 2016.
RADA’s Multi-Mission Hemispheric Radar (MHR) based RPS-42 aerial surveillance radar systems will provide a mobile air surveillance solution for the customer's armed forces.
According to Zvi Alon, RADA's CEO, "This delivery initiates a process during which our customer’s air surveillance capability will be significantly improved by the unique capabilities of our RPS-42 Radar system. For Rada, this contract represents our first production contract and delivery of radars to this part of the world. It demonstrates that our radar technology and capabilities present a very attractive price-performance proposition to customers. We look forward to, and expect, further follow-on orders from this customer as well as new orders from other customers in Asia."
The MHR radar platform, at the heart of the system, is an S-band, software-defined, Pulse-Doppler, active electronically scanned array radar. The Rada system introduces sophisticated beam forming capabilities and advanced signal processing, can provide multiple missions on each radar platform, and offers an unprecedented performance-to-price ratio. It is compact and mobile, delivering ideal organic, tactical surveillance solutions for force and border protection applications such as counter rockets and mortars, counter unmanned aerial systems, ground moving target indicator, air surveillance and more.
About RADA
RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. The Company specializes in the development, production, and sale of Tactical Land Radars for Force and Border Protection, Inertial Navigation Systems for air and land applications, and Avionics Systems and Upgrades.
Company Contact: RADA Electronics Industries Dov Sella, CBDO Tel: +972-9-8921111 [email protected] Investor Relation Contact GK Investor Relations Ehud Helft / Gavriel Frohwein Tel: +1 646 688 3559 [email protected]
