The new company will market, produce and maintain RADA’s tactical radars geared towards the US market
NETANYA, Israel, March 26, 2018 – RADA Electronic Industries Ltd. (Nasdaq: RADA), developer and producer of software-defined, AESA tactical radars for the maneuver force which work on-the-move, announced today the establishment of a Joint Venture US company, together with SAZE Technologies LLC of Silver Spring, MD. The new company, RADA Technologies LLC, will also be based in Silver Spring, MD.
RADA’s US JV will adapt RADA’s tactical radar technology for the US market by altering its technology towards US customer requirements, certifying the radars to US standards, building production capabilities and providing a maintenance and support infrastructure. The company will also be actively engaged in business development and marketing activities in the North American market.
Mr. William (Bill) Watson recently assumed the position of CEO of RADA Technologies. The company will leverage Mr. Watson’s 30+ years of defense and leadership experience in radar and C4 systems as the company expands into the US market. Before joining RADA Technologies, Mr. Watson came from L3 and prior to that, spent 27 years with Leonardo DRS, holding a variety of responsibilities in business, program and engineering management. Mr. Watson holds a bachelor’s degree in mechanical engineering and an MBA in management.
Dov Sella, RADA’s CEO, commented, “The US market is the most important market for our radar technology today. Our tactical radars directly address two of the current six modernization priorities of the US Army, as stated by the Army Chief of Staff in October 2017, namely Active Protection and Short Range Air Defense (SHORAD). In 2017, our significant 100%+ revenue growth came from radar sales to US military forces. We see this performance as an indication as to the huge business potential which the US market presents for our technology and products. We believe our US presence through RADA Technologies will be our gateway to the accelerated expansion of our products in the biggest defense market existing today.”
RADA Technologies is aiming to achieve a Special Security Agreement (SSA) with the United States Defense Security Service by the end of 2018. The SSA will enable the company for engagement with the primary military programs of the United States involving tactical radars for the maneuver force. Cyber certification of RADA’s tactical radars is in in process and is expected to be achieved by year-end 2018. The production line is planned to be active by mid-2019.