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Netanya, Israel, May 16, 2021 (Global News)-Lada Electronics Industry Co., Ltd. (NASDAQ:Lada, TASE: RADA)), a leading global provider of advanced software-defined tactical radars, was immediately awarded by the Israel Defense Forces (IDF) for its counter-mortar, artillery, and rocket (C-RAM) radar Sense&Warn network following 2014 After the “Protection of the Edge” operation. The radar network covers the entire Gaza Strip, has been in operation for a long time, and has shown its greatest value in the ongoing hostilities. The radar only detects short-range mortars and rockets fired in villages, cities and military bases, and provides sufficient warning and interception time.
RADA also clarified that Gaza’s recent rocket attack on Israel has not affected its ongoing operations. The company continues to work uninterrupted in factories in Israel and the United States. In addition, RADA has established sufficient inventory levels so that any potential shipping delays to Israel are not expected to affect any planned deliveries in the coming quarters.
Dov Sella, CEO of RADA, said, “The recent violence in the vicinity of the Gaza Strip illustrates the need for RADA radars. Many of our radars are currently actively used by IDF and have done an excellent job of identifying and warning short-range C-RAM threats. In saving lives and protecting Assets play a key role, which clearly demonstrates the value that our C-RAM and SHORAD radars bring and the growth potential ahead of us. At the same time, we want to emphasize that our business continues to be disrupted by these unfortunate events, even when shipped to In the event of an accidental delay in Israeli goods, we will not have any impact on our delivery.”
About RADA
RADA is a global defense technology company dedicated to proprietary radar solutions and traditional avionics systems. The company is a leader in miniature tactical radar, serving high-growth markets that are compelling, including critical infrastructure protection, border surveillance, active military protection and anti-UAV applications.
Forward-looking statement
Certain statements in this press release are “forward-looking statements” as defined in the Private Securities Litigation Act of 1995. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. The uncertainty and other factors of such risks include, but are not limited to, changes in general economic conditions, product and technology development risks, market acceptance of new products and continuous product demand, competition levels, and the company’s annual report Other factors. Form 20-F and other documents filed with the US Securities and Exchange Commission.
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