Satellite communications co Orbit wins Lockheed deal

Orbit Alchut Technologies has been a Lockheed Martin supplier for over ten years.

Flight communications systems developer Orbit Alchut Technologies Ltd. (TASE:ORBI) has received an order to supply portable tracking antenna systems to Lockheed Martin Company (NYSE: LMT). Orbit has been a Lockheed Martin supplier for over ten years.

Orbit president and CEO Avi Cohen said, "This is a direct continuation of a previous orders from Lockheed Martin. Orbit has supplied defense systems giant Lockheed Martin with products worth $5 million over the last few years."

Orbit was the only supplier that could promise rapid delivery within three months, and met it. As part of the deal, Orbit supplied a system,based on Lockheed Martin's particular specifications, for tracking a test plane. The system includes a mobile truck-based ground tracking system, which can move between the test sites in accordance with Lockheed Martin's special requirements.

Orbit develops and supplies innovative satellite communications systems, tracking systems, and communications and listening management solutions.

Orbit's share price rose 3.2% in morning trading today to NIS 19.44, giving a market cap of NIS 166 million. The share price has risen 36.4% so far this year.

Published by Globes [online], Israel business news - www.globes-online.com - on April 7, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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