Latest Rada Electronic Industries News
Aug 16, 2021
The shares of RADA Electronic Industries Ltd. (NASDAQ: RADA) increased by over 3% pre-market. This is why it happened. The shares of RADA Electronic Industries Ltd. (NASDAQ: RADA) – a leading global provider of advanced software-defined tactical radars for the maneuver force (RADA) – increased by over 3% pre-market. Ltd., (ADTL), a 1,200+ people-strong, professional R&D and Production Organization, focused on the Defense and Aerospace domain, executing a Memorandum of Understanding to establish a Joint Venture to market, manufacture, sell and support RADA’s radars in India. Based on Indian defense doctrines for air defense and force protection, RADA is envisioning this market as a strategic growth opportunity. And in line with the Indian Government’s “Make in India” policies, RADA decided to establish a strong local presence in India in partnership with a leading local defense company, offering the private and public defense industry in India, advanced, locally adapted and produced, tactical radars — which are personalized to the unique requirements of the Indian Armed Forces. And among the operational missions in which this advanced technology would be used are, mobile short-range air defense, counter UAV, counter mortars, artillery and rockets (C-RAM), active protection of armored vehicles, and others. KEY QUOTES: “Our business strategy is to establish substantial local presence in our key markets. India is such a market for us, and we look forward to begin building our Indian entity with our partner ADTL. We have been impressed by ADTL’s proven track-record in building a successful business, providing advanced systems to the Indian Armed Forces and partnering with non-Indian defense companies for the Indian market, and we are pleased that they have chosen to partner with us to capture this opportunity. We believe that now is the right timing to develop our Indian market presence and become a provider of our cutting-edge technologies and solutions to the Indian Armed Forces.” — Dov Sella, RADA’s CEO “RADA’s combat-proven radars are uniquely suited to the requirements of the Indian armed services, with their next-generation capabilities against UAVs and other current and emerging threats, at their market-leading price/performance point. We are pleased that RADA has chosen us as their partner in India and look forward to working together to address the needs of all local system integrators and security forces alike.” — Col. H. S. Shankar, VSM (Retd. ), Chairman & Managing Director of ADTL Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.