Indian Army to Acquire $30 million Worth Israeli Night Vision Equipment
Dated 20/3/2007
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Sources inform "Globes" that Star Night Technologies Ltd. (TASE:STNT) subsidiary SDS has won a tender worth an estimated $30 million to supply night vision equipment to the Indian army.
The order will be supplied over a two-year period, and SDS is currently negotiating with authorities in India on a date for the start of deliveries. Star Night declined to comment on the report.
The contract is a significant one by any measure and, if signed, it will double SDS's activity. The company has not yet published its financial report for 2006 although it is expected to unveil pro-forma turnover of $12-15 million, similar to its yearly revenue from the contract with the Indian army.
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SDS to supply night-vision equipment to Indian army
The company won a tender worth an estimated $30 million.
Uri Shuster 19 Mar 07 18:20
Sources inform ''Globes'' that Star Night Technologies Ltd. (TASE:STNT) subsidiary SDS has won a tender worth an estimated $30 million to supply night vision equipment to the Indian army. The order will be supplied over a two-year period, and SDS is currently negotiating with authorities in India on a date for the start of deliveries. Star Night declined to comment on the report.
The contract is a significant one by any measure and, if signed, it will double SDS's activity. The company has not yet published its financial report for 2006 although it is expected to unveil pro-forma turnover of $12-15 million, similar to its yearly revenue from the contract with the Indian army.
The company won the tender through a subsidiary, New Noga Light Ltd., which manufactures night-vision equipment and sniper rifle sights. This division represents a core source of revenue for the company, which underwent significant changes in its holdings structure last year.