Rada Electronic Inks MOU With Alpha Design Technologies To Establish JV In India For Undisclosed Sum

  • Rada Electronic Industries Ltd RADA and Alpha Design Technologies Pvt. Ltd. (ADTL) have signed a Memorandum of Understanding to establish a Joint Venture to market, manufacture, sell and support RADA's radars in India. The financial terms of the deal remain undisclosed.
  • Based on Indian defense doctrines for air defense and force protection, RADA envisions this market as a strategic growth opportunity.
  • In partnership with a local defense company, RADA offers the private and public defense industry in India advanced, locally adapted and produced, tactical radars tailored to the unique requirements of the Indian Armed Forces.
  • The advanced technology will be used for mobile short-range air defense, counter UAV, counter mortars, artillery and rockets (C-RAM), active protection of armored vehicles, and others.
  • Price Action: RADA shares are trading higher by 3.46% at $11.67 during the premarket session on Monday.
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