Micronet Receives $800,000 Purchase Order
for TREQ-VMX Mobile Rugged Tablets
MONTVALE, N.J., July 9, 2014 /PRNewswire/ -- Micronet Enertec Technologies, Inc. today announced that its subsidiary Micronet Inc., received an additional purchase order totaling $800,000 for TREQ-VMX fully-portable, rugged mobile tablets from a U.S. based Mobile Resource Management (MRM) service provider.
The customer is a leading MRM service provider specializing in fleet and operations management for heavy construction, cabin-mounted and field applications. Deliveries are expected to continue through the end of 2014.
The TREQ-VMX is a rugged, portable and powerful tablet for both in-cab and out-of-cabin operations. It is designed to operate in severe environmental conditions. This platform contains a powerful tablet computer, camera, communication tools, bar code reader and connections to truck sensors for fleet management and driver safety.
Treq-VMX can also be fully integrated into corporate information systems.
Shai Lustgarten, CEO of Micronet Ltd., commented: “This is another example of the industry’s growing acceptance of the TREQ-VMX platform due to its unique features developed to directly support for the growing market for field-level computing.”
David Lucatz, CEO of MICT, concluded: “Our momentum continues as our comprehensive product offering gain additional interest and demand. As we accelerate our marketing and sales efforts, we are confident that we will generate increased order flow for this and many other new applications.”
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (MICT), 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 Ltd. and its wholly owned subsidiary Micronet Inc., operate 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. For more information please visit: www.micronet-enertec.com, the content of which is not incorporated by reference into this press release.
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 Company's future success in the MRM market, increase presence in the US and ability to become a leading solutions player in the MRM space, further purchases of Micronet shares and the closing of the transaction reported in this press release. 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, 2013 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.
Miri Segal Scharia
Managing Partner Global Accounts & IPOs
Hayden/ MS-IR LLC
Micronet Enertec Technologies, Inc.