Micronet Awarded $1.7 Million Purchase Order
for MRM Mobile Rugged Tablets
for the Construction Industry
Montvale, NJ January 6, 2015 -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), announced that its Mobile Resource Management (MRM) subsidiary, Micronet Ltd,., has received via its wholly-owned subsidiary, Micronet Inc., a purchase order in the amount of $1.7 million from a leading U.S. based bulk material supply chain solutions company, for its TREQ-fully portable, rugged mobile tablets.
Using Micronet's rugged tablets, the U.S.- based customer focuses on the optimization of transportation planning and performance by providing a network of electronic links that allows it to transact bulk materials purchases ‘just-in-time’. Additionally, the network gives transportation providers instant demand visibility which cuts down on-site wait times and also provides proof of delivery, resulting in faster payment processing.
“We believe Micronet offers a comprehensive product in the MRM rugged tablet industry and orders such as this one, for the Construction industry, validate the quality, diversity and market acceptance of our line of tablets to provide the solution to many different applications,” said Shai Lustgarten, Micronet Chief Executive Officer.
“It is gratifying to receive an order of this size, which demonstrates our continued momentum and proven progress toward establishing Micronet as a major supplier of rugged tablets to the multibillion dollar MRM market. Our portfolio of solutions combined with our skilled sales team, position us well to increasingly capture business in the local fleet vertical, the largest segment in the MRM space.”
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQCM: 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 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. 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 potential growth of the Company's MRM business with increased market share in the higher growth local fleet vehicle vertical, the Company's business strategy and plans for future operations. 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.
Micronet Enertec Contact Information:
John Nesbett or Jennifer Belodeau
Institutional Marketing Services (IMS)