2008-12-01 07:16:01 -

www.astramwp.com/ - Astra Microwave Products Ltd (BSE:532493) (NSE:ASTRAMICRO) (Reuters:ASTM.BO) (Bloomberg:ASTM.IN), India"s leading provider of microwave wireless technologies used in defense, space, and telecommunications, today announced that the company has won an order worth INR 570 million (USD 11.5 million) from Israel"s ELTA Systems Ltd. A group subsidiary of Israel Aerospace Industries, ELTA is a world leader in electromagnetic

sensors-based advanced defense systems for radar, electronic warfare, and communications.
The order is for the supply of microwave wireless sub-systems for India"s defense radar program. The contract is effective between November 2008 and mid-2010.
The order from ELTA is Astra"s first contract under the offset obligations clause of India"s Defence Procurement Policy, 2006. The offsets clause mandates that 30% of all defense contracts worth INR 3 billion and above must be invested in the Indian defense industry by way of sourcing components, sharing technology, setting up training facilities, or using IT services.
Comment by B Malla Reddy, Managing Director, Astra Microwave Products
The ELTA contract showcases Astra Microwave"s global technological capabilities and scale of operations to meet the demand from obligations mandated by the Defence Procurement Policy, said B Malla Reddy, Managing Director, Astra Microwave.
"Offset obligations are a significant opportunity for manufacturers and technology providers in the Indian defense space. Our proven technological expertise, infrastructure, and processes are a strong positive differentiator with global defense suppliers. Going forward, we are confident of forging many such relationships," Mr Malla Reddy said.
About Astra Microwave Products Ltd
Headquartered in Hyderabad, India, Astra Microwave Products Ltd (www.astramwp.com) designs, develops, and manufactures components and sub-systems for microwave wireless communications systems used in defense, space, and civilian applications. Prominent customers include, among others, the Defence Research Development Organization, Bharat Electronics, Hindustan Aeronautics, Bharat Dynamics, Electronics Corporation of India, the Indian Space Research Organization, Reliance Communications, Ericsson, and Tata Teleservices.
In FY08, Astra Microwave gross revenue was INR 1.27 billion on an equity capital of INR 107.5 million.



Astra Microwave Products

S Gurunatha Reddy, +91.40.30618000/+91.9849027681

sgr@astramwp.com

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Ubiquus

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