Micronet Enertec Technologies Awarded a $1.4M
Purchase Order from a Leading Israeli Defense Contractor
- A Follow-On Production Order for Special Units Previously Developed by Enertec
- Enertec's Equipment to be Installed in a State-of-the-Art Airborne System
- David Lucatz (CEO): "This order is for a mission-critical building block of a leading defense system. It reflects a strong confidence in our products and solutions".
EMERSON, N.J., Oct. 8, 2013 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (MICT), announced today that its wholly owned subsidiary, Enertec Systems 2001 Ltd, was awarded a $1.4M follow-on purchase order to provide primary components for integration into an advanced defense airborne system.
The customer is a multi-billion dollar Israeli defense corporation that provides innovative solutions for naval, land, air and space systems. This customer has indicated that MICT may expect follow-on orders over the duration of the program.
David Lucatz, President and CEO of Micronet Enertec Technologies, commented, "Our critical defense components will be installed in a state-of-the-art airborne system. This demonstrates our strong market position as a solution provider and reflects the on-going confidence of our leading Industry customers in the quality and reliability of our products.
As threats increase around the world, advanced defense systems such as the one we support, benefit from growing interest and demand. We are proud to take part in strategic programs such as this one, and we're confident that our technologies and solutions will continue to benefit from these trends."
David Lucatz concluded: "We are pleased with the current backlog of our defense sector, which includes sophisticated components for future state of the art missile defense systems as well as production orders for our previously developed equipment. The defense sector provides MICT with visibility and predictable revenue stream."
Micronet Enertec Technologies, Inc. Forward-looking Statement.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “believe,” “intend,” “plan,” “continue,” “may,” “will,” “anticipate,” and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. More detailed information about the risk factors affecting the Company’s performance is contained under the heading “Risk Factors” in the Company’s annual report filed with the SEC, which is available on the SEC’s web site, www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analyses only as of the date hereof. The Company neither intends to, nor assumes any obligation to, update or revise these forward-looking statements in light of developments that differ from those anticipated.
Miri Segal Scharia
Managing Partner Global Accounts & IPOs
Hayden/ MS-IR LLC
Micronet Enertec Technologies, Inc.