Spectronix Ltd. (TASE: SPCT) has won a number of new contracts for the coming year.
One order is for 280 flame and gas detections systems for vehicles for a NATO country, worth $1.4 million. The contract includes a cooperation agreement for the licensing of production and distribution by a local company for parts of the system.
A second contract is for 90 flame and gas detections systems for vehicles for the US Marine Corps worth $1.1 million. The order is for urgent delivery. The company expects a similar order from the US Army for installation in vehicles armored against mines and improved explosive devices.
The company also expects to obtain a follow-on order worth $1.7 million for delivery by year end from a NATO country, which is a regular customer.
Spectronix said that other projects for the US Army and other militaries are in various stages of handling. The company added that progress on these projects and orders will likely greatly boost its sales and activity in the military market this year.
Spectronix rose 5.7% in morning trading.
Published by Globes [online], Israel business news - www.globes.co.il - on April 10, 2007
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