RADA - Leonardo DRS awarded $50M contract by the Swedish Ministry Of Defense

• Leonardo DRS- to be merged with RADA Electronic Industries ( NASDAQ: RADA ) has received contracts to provide its advanced thermal weapon sights for the Swedish Ministry of Defense (or MOD).
• The firm-fixed-price contracts are worth ~$50M.
• The contracts were awarded to DRS partner Leonardo GmbH in Germany as the prime contractor.
• Through multiple orders, the Swedish MOD ordered more than 3100 individual thermal weapon sights and 1,500 long-range thermal weapon sights.
• Production of the weapon sights was completed in the company’s Electro-Optical Infrared Systems facilities in Melbourne, Florida and Dallas, Texas.

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