Orbit Alchut Technologies Ltd. (TASE:ORBI) has won an international tender to supply civilian satellite tracking systems for NIS 3 million. The company beat a large US and a large European company in the tender.
Orbit will supply two 3-meter antenna systems, which will track low earth orbit civilian photo satellites. The company will also provide service and maintenance for two years, with an option to extend for five more years.
Orbit president and CEO Avi Cohen said, "Winning this prestigious tender and the preference given to our systems over the competitors' systems demonstrates the supremacy of Orbit's tracking systems technology. Orbit is steadily expanding its market share in this field, as well as showing steady growth in business in general."
In 2009, Orbit announced tens of millions of shekels in sales for its satellite tracking systems to Israeli defense companies and to a European air force. Recently, the company sold customized portable tracking antenna systems to Lockheed Martin Company (NYSE: LMT) to track test planes.
Orbit's share price rose 4.2% at the opening on the TASE today to NIS 21.55, giving a market cap of NIS 183 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2010
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