The "Korea Times" reports that the Republic of Korea Army will likely buy two Green Pine early warning radar systems made by Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) subsidiary Elta at a cost of $214 million. The systems will be delivered in 2010 and become operational in 2012.
The Green Pine system can locate and track income cruise ballistic missiles, so they can be intercepted. It has a range of over 500 kilometers and is the radar component of Israel's Arrow anti-ballistic missile system. North Korea has a wide range of short range through intercontinental ballistic missiles.
The "Korea Times" quotes an anonymous source in Korean's Defense Acquisition Procurement Agency (DAPA) as saying that the Green Pine is more suited for South Korea's defense needs in terms of both operations and cost than similar systems developed in other countries.
Elta competed in the South Korean tender against the M3R early warning system developed by ThalesRaytheonSystems. The M3R failed to meet certain operational requirements in field tests. South Korea also wanted to test a US long-range radar system, which the US will not export, and offered only a lower quality system, which the Korean Army rejected.
Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2009
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