Micronet Receives $1,600,000 Purchase Orders for its TREQ®-317 From A Global Fleet Management Provider
MONTVALE, N.J., Sept. 11, 2017
MONTVALE, N.J., Sept. 11, 2017 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), (the "Company"), announced today that its Mobile Resource Management (MRM) subsidiary, Micronet Ltd. ("Micronet"), has received a purchase orders from a current customer valued at approximately $1,600,000 for its TREQ®-317. The TREQ®-317, is a rugged Android™ based on board computer which offers advanced functionality at a competitive price
"As the first stage of the ELD ("Electronic Logging Device") mandate deadline nears, Micronet is experiencing increasing product demand and expects long term growth in it's market share and MRM revenues. We believe these orders illustrate the strong confidence our customers have in our product line," said David Lucatz, CEO of MICT.
"Micronet is continuously working to strengthen its market position by developing a new line of 'in cab telematics' products and services in order to position itself as a technology leader in today's fast changing MRM/Telematics space," said David Markus, CEO of Micronet Ltd.
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) provides high tech solutions for severe environments and the battlefield, including missile defense technologies for Aerospace & Defense and rugged mobile devices for the growing commercial MRM market. MICT designs, develops, manufactures and supplies customized military computer-based systems, simulators, automatic test equipment and electronic instruments, addressing the defense industry. Solutions and systems are integrated into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for the Israeli Air Force, Israeli Navy and by foreign defense entities. MICT's MRM division develops, manufactures and provides mobile computing platforms for the mobile logistics management market in the U.S., Europe and Israel. American-manufactured systems are designed for outdoor and challenging work environments in trucking, distribution, logistics, public safety and construction.
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding the expected timing of the delivery of the TREQ®-317 on board computer, the Company's expectation for long term growth in its market share and MRM revenues and the Company continuously strengthening its market position by developing a new line of products in order to position itself as a technology leader in the fast changing MRM/Telematics space. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the Company's annual report on Form 10-K for the year ended December 31, 2016 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Micronet Enertec Technologies, Inc.