A new $3.7m contract has been awarded to INTRACOM Defense Electronics (IDE) by Northrop Grumman (NYSE: NOC) for defense avionics for the global market that is to be implemented by June 2015.
The agreement confirms IDE consolidation in the production of high-tech avionics applications. At the same time Northrop Grumman remains a loyal customer, recognising and utilising IDE production capacity and a high level of human resources.
This IDE recent success demonstrates that even in a tough financial environment, sound and consistent domestic technological value remains in companies that continue to show significant success amidst international competition. Also, such companies have been supporting and contributing to the Greek economy, enjoying the trust of world-leading defense industries over a number of years.