Air China signs a maintenance contract with Rada's Chinese joint venture.NEW YORK--(BUSINESS WIRE)--July 29, 1996--RADA Electronic Industries Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : RADIF) today announced the signing of a maintenance services contract with Air China by its Chinese subsidiary, China Aircraft Component Services (CACS CACS Center for Advanced Computer Studies CACS Computer Audit, Control and Security CACS Carrier Access Corporation (stock symbol) CACs Criteria Air Contaminants CACS Center for Alaskan Coastal Studies CACS Coronary Artery Calcium Scoring ). Air China, based in Beijing, is China's principle international airline. As a result of the new agreement, CACS will provide avionics component maintenance utilizing RADA's CATS equipment. CATS is capable of performing precise and automated diagnostic tests far more efficiently than manual testing (testing) manual testing - That part of software testing that requires human input, analysis, or evaluation. . Over 300 western-built aircraft currently operate in China. Rada management believes rapid growth in the avionics sector in China will continue during the next decade. As an early entrant into the avionics maintenance market, CACS is poised to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. such growth. "While there have been several milestones during the development of this joint venture, the Air China contract is the most significant. As the launch customer, Air China provides not only the start-up of revenue from that region, but also validates the capability of CACS for other Chinese airlines who continually follow its lead," stated RADA's corporate vice president Randeep S. Grewal. CACS is a joint venture company between a RADA subsidiary and Tianzu, its Chinese partner, located at Capital International Airport in Beijing. CACS has attained approval as an avionics maintenance center from the Civil Aviation Administration and has Chinese governmental approval to operate in China until 2024. Rada's CATS equipment currently is used by major airline companies including British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. , United Airlines, US Air and many others. RADA Electronic Industries Ltd. is a leading niche aerospace business focused on avionics testing and post-flight debriefing de·brief·ing n. 1. The act or process of debriefing or of being debriefed. 2. The information imparted during the process of being debriefed. Noun 1. (Top Gun) systems for commercial and military aviation. The Company's strategically located subsidiaries reach markets worldwide. Subsidiaries include Tasco Electronics Inc. and Active Technologies Inc. in the US, Vectronics Ltd. and Unitec Universal Technologies Ltd. in Israel, Adar Active Technologies B.V. in Holland, and CACS in China. CONTACT: Randeep S. Grewal Rada Electronic Industries Tel. 516-938-7878 or Leslie Creutzfeldt Wolf The Anne McBride Anne C. McBride (born Nova Scotia) was a frequent candidate in Canadian federal and provincial elections and by-elections in the 1970s, 1980s and 1990s. McBride was an ordained minister in the Assemblies of God, a Pentecostal Christian denomination. Co. Tel. 212-752-0504 |
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