Rada Electronic Inks MOU With Alpha Design Technologies To Establish JV In India For Undisclosed Sum

Rada Electronic Industries Ltd RADA and Alpha Design Technologies Pvt. Ltd. (ADTL) have signed a Memorandum of Understanding to establish a Joint Venture to market, manufacture, sell and support RADA's radars in India. The financial terms of the deal remain undisclosed.
Based on Indian defense doctrines for air defense and force protection, RADA envisions this market as a strategic growth opportunity.
In partnership with a local defense company, RADA offers the private and public defense industry in India advanced, locally adapted and produced, tactical radars tailored to the unique requirements of the Indian Armed Forces.
The advanced technology will be used for mobile short-range air defense, counter UAV, counter mortars, artillery and rockets (C-RAM), active protection of armored vehicles, and others.
Price Action: RADA shares are trading higher by 3.46% at $11.67 during the premarket session on Monday.