New Export Contract and High Percentage of Exports to USA

June 23, 2015: IDE (INTRACOM Defense Electronics), the leading defense electronics and communication systems manufacturer in Greece, extends its cooperation with Raytheon by signing a new contract worth USD 63m to manufacture subsystems for the PATRIOT defense system. It is scheduled to be completed by February 2017.

The new contract expands the cooperation with prominent US suppliers in international programs. It is worth noting that IDE’s exports contribute to over 98% of its turnover. In particular, IDE exports of high defense technology products to the USA in 2013 corresponded to approximately 5% of the total Greek exports to the USA, an increase from 4% in 2012.

IDE CEO George Troullinos stated: “We are proud for our over 20 years cooperation with Raytheon and their trust in our capabilities. This new contract confirms our compliance to the highest technology standards and our international competitiveness in a very demanding industry.”