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Microcap & Penny Stocks : RADA Electonics Industries, Ltd. ("RADIF") -- Ignore unavailable to you. Want to Upgrade?

To: Bennett Zimmerman who wrote (29)	2/25/1998 11:19:00 AM
From: Claude Edelson	Respond to of 59

how abot this? Rada's Miami Avionics Test Facility Certified By FAA PR Newswire - February 25, 1998 11:07 RADIF %AIR %JVN V%PRN P%PRN ------------------------------------------------------------------------ Jump to first matched term HERZILYA PITUACH, Israel, Feb. 25 /PRNewswire/ -- Rada Electronics Industries Ltd. (Nasdaq: RADIF), today announced that its new joint venture company in Miami, N.F.F. Avionic Services Inc., has received a Federal Aviation Administration certificate as an approved repair station. Rada Chairman Yair Grinberg said the N.F.F. affiliate will provide an innovative service to airlines and repair facilities based on Rada's CATS, which enables fast, accurate turnaround of avionics and electronic components testing after being removed for maintenance. CATS is an automated test station that can test nearly 200 different types of aircraft computers and electronic components within about 10 percent of the time required for equivalent manual testing. No-fault-found results account for nearly 50 percent of the components that are removed for maintenance. Using the N.F.F. Service, these units can be returned to the aircraft within 24 to 48 hours instead of 30 to 60 days. N.F.F. President John Manuel said the Company has been eager to get the Miami facility up and running in a rapidly growing market. "We already have customers and we have no doubt that our short turnaround time and the quality of service we will provide will generate strong interest and revenues," he added. Before joining N.F.F. Mr. Manuel worked 33 years in various maintenance positions, including manager of the component repair shop for U.S. Airways. N.F.F. plans to establish a second repair center near Los Angeles International Airport. Mr. Manuel said both the Miami and Los Angeles airports service a wide variety of domestic and international flights and should provide a heavy workload for the Company. Mr. Grinberg added, "We see an expanding market and significant opportunity for Rada in the third-party maintenance sector of commercial aviation. We hope to continue opening CATS facilities at major commercial air hubs." N.F.F. Avionics Services is a subsidiary of New Reef Enterprises, a company 75 percent owned by Horsham Holdings and 25 percent owned by Rada. After New Reef repays a shareholder loan to Horsham and meets certain other criteria, Mr. Grinberg said, Rada will be able to acquire a 47.5 percent ownership interest in New Reef's equity and will be entitled to a majority on the Board of Directors. CATS is used by leading airlines and maintenance facilities around the world, including British Airways, British Midland and F.L.S. in the UK, United Airlines, US Airways, Aeroinstruments and A.A.I. in the US, Olympic Airways, Greece, Air Mauritius, and China United and Gameco in China. Rada Electronic Industries Ltd. is incorporated in Israel and has a subsidiary in the United States. The company is engaged in the development, manufacturing and marketing of advanced electronic equipment for the aerospace and commercial aviation markets. SOURCE Rada Electronic Industries Ltd. /CONTACT: Yair Grinberg of Rada Electronic Industries, 011-972-9-954-2182; or Leslie Creutzfeldt Wolf of The Anne McBride Company, 212-983-1702, for Rada Electronic Industries/ (RADIF)