Spectronix Ltd. (TASE: SPCT) has received follow-on orders from the US Army for the supply of spare parts for systems installed in mine-resistant ambush protected all-terrain vehicles (MRAP-ATV). The Sderot-based company makes optical sensors for the detection of fire, gas, and explosives.
Spectronix received two follow-on orders from the MRAP chief contractor, Oshkosh, after it won a second US Army tender for the vehicles. One order, still related to a previous tender, is for $3 million and the second, from the new tender, is for $11 million.
Spectronix already has $21 million in orders related to the MRAP program, and the new orders bring the total to $35 million.
The company's share rose 9.6% in morning trading to NIS 24.60. The share has more than doubled so far this year.
Published by Globes [online], Israel business news - www.globes-online.com - on August 3, 2009
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