- RADA Electronic Industries (NASDAQ:RADA) and Alpha Design Technologies Pvt. Ltd. ("ADTL") have executed an MoU to establish a Joint Venture to market, manufacture, sell and support RADA’s radars in India.
- Established in Bangalore, ADTL is set up to utilize the Government of India’s policies for liberalization of the Indian economy and opening of Defence Production to Private Sector Industries.
- In line with the Indian Government's policies of "Make in India," RADA decided to establish a local presence in India with a local defense company.
- Shares +2% premarket.