LIG Nex1 signs USD163 mn deal

LIG Nex1 signs USD163 mn deal

LIG Nex1, a South Korean aerospace and defense company, signed a supply contract connected to the Korean military counter-battery radar system II program.

The contract, worth $163.1 million, which represents 10.3 percent of the company’s revenue last year, signed with Defense Acquisition Program Administration. Full rate production should be met by 2020.

A counter-battery radar system for the purpose of enemy field artillery location and acquisition plays a key role as the core element of a brigade or division level counter-battery system. Prototypes show 30-40 percent better performance and 95 percent in component localization versus imported ARTHUR-K .

The company expects large-scale exports will follow after full-rate production as overseas buyers in Europe and the Middle East show a keen interest in the better price and performance of the weaponry.

Source: www.defenceandtechnology.com
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