Israel’s Rada Electronic Industries (Nasdaq: RADIF) announced on Sunday that it had expanded its relationship with US aircraft equipment maker Smiths Aerospace.
RADA said that the new teaming agreement covered the joint development, production and marketing of data management equipment and ground based training systems. The two companies said the systems they would develop would broaden growth opportunities in the military marketplace.
Smiths and RADA have collaborated since the Peace Marble V program during which they jointly developed the Digital Acquisition System, the Advanced Data Transfer Equipment / Digital Video Recording and the Squadron Information Management Network / Debrief System.
The new agreement includes Smiths Aerospace businesses located in Michigan and Maryland and RADA's businesses located in Netanya and Beit She'an.
Smiths Aerospace is a major aerospace equipment company, employing 12,000 staff and recording annual revenues of $2 billion. The company specializes in the supply chains of major military and civil aircraft and engine manufacturers and provides electronic systems, actuation systems and components.
RADA is involved in the military and commercial aerospace industries, with 110 staff. The company specializes in avionics, ground debriefing stations and automatic test equipment.
RADA trades on Nasdaq at a company value of $8 million.
Published by Globes [online] - www.globes.co.il - on 16 June, 2003