November 21, 2013

Micronet Enertec Technologies Enhances Management Team
with New Executives of Business Development & Sales Strategic
appointments of Shai Lustgarten and Sandy Mayer Add Accomplished Executives to Propel Vision and Growth of MRM & Aerospace Globally

EMERSON, N.J., Nov. 21, 2013 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQ: MICT), a developer and manufacturer that integrates and globally markets rugged computers, tablets and computer-based systems for the commercial Mobile Resource Management (MRM) market and for the defense and aerospace markets, today announced two strategic executive appointments designed to further position the company as a global leader in the MRM and aerospace markets.

Industry veteran, Mr. Shai Lustgarten, has joined as Executive Vice President of Business Development.

Mr. Lustgarten brings extensive and proven experience in similar positions with industrial global companies operating in international markets in both the commercial and defense electronics fields and related industries. Prior to joining MICT, he served for five years as Vice President Sales, Marketing & CMO of TAT Technologies Group (NASDAQ:TATT), a world leading supplier of electronic systems to the commercial and Aerospace markets.
During his tenure with TATT Mr. Lustgarten established, developed and maintained business relationships with major Airlines and Aerospace contractors in the US and worldwide, such as Boeing, Lockheed Martin, Honeywell, Air France - KLM, American Airlines and many others. Prior to that, Mr. Lustgarten was Director of Business Development of SGD Engineering Ltd, a provider of specialized commercial aviation and Aerospace solutions. 


Prior to his business career, Mr. Lustgarten served as the assistant to the Military Attachee at the Embassy of Israel in Washington, DC. He holds a B.Sc. of Business Management & Computer Science from the University of Maryland.


Mr. Sandy Mayer, appointed as sales and marketing manager for the North America market in Micronet Ltd, our MRM subsidiary and division, brings over 20 years of business experience in the Telematics, Wireless and location-based services industries.
Prior to joining our group, Mr. Mayer held several leadership positions, most recently serving as Mobile Device Ingenierie's general manager for the Americas, where he oversaw the company's successful penetration and growth throughout the continents. Previously, Mr. Mayer was co-founder of SigmaOne Communications, a pioneer in location-based services. 


"We are excited to have Shai and Sandy join MICT group," commented David Lucatz, Chief Executive Officer of Micronet Enertec Inc. "Their proven experience in sales and marketing in our primary sectors of focus will be invaluable in the coming months as we expand our footprint globally and pursue new opportunities in both the MRM/Fleet Management and the aerospace markets. We now have the senior sales leadership in place, matched perfectly with our next generation of innovative products and technology solutions."
"I am thrilled to join MICT at this time of rapid growth and new market entry," commented Mr. Lustgarten. "Micronet Enertec's solutions are among the most advanced in the industry, and I look forward to taking our sales to the next level by expanding our brand, broadening our distribution, adding new channels, and working with our defense and technology VAR and service provider partners."

About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc., formerly known as Lapis Technologies, Inc., operates through two companies, Enertec Systems 2001 Ltd ("Enertec"), its wholly-owned subsidiary, and Micronet Ltd ("Micronet"), in which it has a controlling interest. Micronet operates in the growing commercial Mobile Resource Management (MRM) market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems for missile defense systems, command and control and others. The Company's products, solutions and services are designed to perform in severe environments and battlefield conditions.

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.

Contact information:
Miri Segal Scharia

Managing Partner Global Accounts & IPOs
Hayden/ MS-IR LLC
Tel: 917-607-8654
msegal@ms-ir.com

Dina Shir
Micronet Enertec Technologies, Inc.
Tel: +972-544-652806
dina@micronet-enertec.com

 

Copyright Micronet Enertec Technologies, Inc 2013