SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2003
RADA ELECTRONIC INDUSTRIES LIMITED
(Name of Registrant)
7 Giborei Israel Street, Netanya 42504, Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F __
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):__
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):__
Indicate by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ________________
This Form 6-K is being incorporated by reference into the Company's Form
F-3 Registration Statement File No. 333-11716.
RADA ELECTRONIC INDUSTRIES LTD.
6-K Items
1. Press Release re RADA Electronic Industries Ltd. RADA Electronic Industries
and Smiths Aerospace Sign Teaming Agreement Providing RADA with Potential
Revenues of $90 Million Over the Next 10 Years dated October 22, 2003.
ITEM 1
Press Release Source: RADA Electronic Industries Ltd.
RADA Electronic Industries and Smiths Aerospace Sign
Teaming Agreement Providing RADA with Potential
Revenues of $90 Million Over the Next 10 Years
Wednesday October 22, 9:07 am ET
NETANYA, Israel, Oct. 22 /PRNewswire-FirstCall/ -- RADA Electronic Industries
Ltd. (Nasdaq: RADIF - News), and Smiths Aerospace signed a Teaming Agreement on
October 17th, 2003. The Agreement includes joint development, production and
marketing of data management equipment and ground based training systems. As a
baseline, the agreement relates to the jointly developed Peace Marble V Digital
Acquisition System (DAS), Smiths' Advanced Data Transfer Equipment / Digital
Video Recording (ADTE/DVR) and the RADA Squadron Information Management (SIM)
Network / Debrief System. These systems and planned derivatives will expand
growth opportunities in the military marketplace by building on the technical
and market strengths of both companies.
Smiths and RADA estimate that the DAS market will be in excess of 2000 units
during the next few years with applications for new aircraft and as replacement
systems for existing aircraft. Various U.S.-made aircraft programs have already
selected the DAS as their flight data recorder. The DVR and SIM Net represent
the most advanced information recording and management network available for
training and debriefing at the squadron level.
In addition to the above-mentioned products, Smiths has made commitments to
purchase production work from RADA's Beit She'an facility in excess of $13
million during a period of 4 years. This commitment plays a major role in RADA
plans to turn its Beit She'an facility into a profitable entity by the end of
2004.
Commenting on the agreement, Adar Azancot, RADA's Chief Executive Officer said,
" This agreement solidifies the foundation for the future growth of our company
and has the potential to generate $90 million in revenues for RADA over the next
ten years."
The Agreement includes Smiths Aerospace businesses located in Michigan and
Maryland and RADA's businesses located in Netanya and Beit She'an, Israel.
About RADA: RADA Electronic Industries Ltd. is an Israel based company involved
in the military and commercial aerospace industries and a staff of 110
personnel. The company specializes in Avionics, Ground Debriefing Stations
(Video, ACMI and Maintenance) and Automatic Test Equipment.
About Smiths: Smiths Aerospace is the leading transatlantic aerospace equipment
company, with 12,000 staff and $2 billion revenue split equally between Europe
and North America. Smiths Aerospace holds key positions in the supply chains on
all major military and civil aircraft and engine manufacturers supplying
integrated solutions. Strategically organized businesses focus on systems in
electronics, actuation, detection, security, and marine, as well as precision
components and customer services.
Note: Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Act of 1995. Such
statements involve known and unknown risks, uncertainties and other factors that
may cause actual results to differ materially. Such risk uncertainties and other
factors include, but are not limited to, changes in general economic conditions,
risks in product and technology developments, market acceptance of new products
and continuing product demand, level of competition and other factors described
in the Company's Annual Reports on Form 20-F and other filings with the
Securities and Exchange Commission.
Company Contact: Zvi Alon - VP Business Development
RADA Electronic Industries
Tel: 011-972-9-892-1111
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Rada Electronic Industries Ltd.
(Registrant)
By: /s/Herzle Bodinger
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Herzle Bodinger, Chairman
Date: October 22, 2003