Intracom Defense (IDE) has signed a contract to participate in the US Air Force’s early warning and control aircraft modernization program, also known as AWACS, following the completion of a recent international tender.
Although the terms of the contract were not disclosed, the new agreement, as noted the IDE management, expands the cooperation of the Greek company with Boeing under the AWACS program and strengthens its position in the world aviation market…
AWACS aircraft are designed to detect aircraft, ships and vehicles at long distances, as well as to carry out control and command, directing strikes by fighter aircraft. Such aircraft can also perform reconnaissance flights and be used in both defensive and offensive operations.
Recall that IDE is a subsidiary of Intracom Holdings (ss belongs to the family Kokkalisa) and is included in the official list of suppliers of NATO countries, at the same time participating in European defense and industrial development projects. He also has a long history of cooperation with the Greek Armed Forces. In the 90s, Kokkalis was accused of having links with the East German intelligence service, the Stasi and the KGB, but now this does not prevent him from actively working in the NATO military technology market.
In 2019, Intracom Group’s turnover exceeded half a billion euros, and EBITDA results (excluding taxes, interest and depreciation) amounted to 27.1 million euros. Today share on Athens Stock Exchange increased by 1.2% to 1346 euros, with an increase of 60% since the beginning of 2021.
Following an international tender, INTRACOM DEFENSE (IDE) signed a contract with BOEING to participate in the USAF AWACS (Airborne Warning and Control System) Modernization Program.
With this new agreement, IDE expands its previously successful partnership with BOEING in the AWACS program and further strengthens its position in the global aerospace market as a reliable manufacturer of high-quality aircraft equipment and a reliable partner of the world’s largest defense and aeronautical companies.