DPW Holdings’ Enertec Systems Awarded $4.3 Million Second-Stage Project for Computer-Based Command and Control Missile Defe...
July 26 2018 - 6:30AM
DPW Holdings, Inc. (NYSE American: DPW), a diversified holding
company, announced Enertec Corporation, the Israel-based defense
solutions group of DPW subsidiary Coolisys Technologies, Inc., was
awarded a $4.3 million second-stage contract award from an Israeli
defense and aerospace contractor to supply computer-based command
and control missile defense systems.
Zvi Avni, CEO of Enertec, said, “This important win is the
result of a multi-year development effort, reinforcing Enertec’s
strategic focus on missile defense systems and validating our
ability to deliver complex command and control systems. We believe
we are well-positioned to pursue additional orders for similar
systems from existing and new customers.”
Coolisys’ President and CEO Amos Kohn stated, “This project
illustrates Enertec’s growing reputation as an innovative provider
of state-of-the-art missile defense and aerospace systems.
Coolisys’ acquisition of Enertec in May 2018, as part of our
strategy of growth through synergistic acquisitions, is enabling us
to increase our revenues and expand our customer base. This win
will help to further solidify Coolisys’ position as an advanced
aerospace and defense technology supplier for major strategic
defense programs.”
In 2015, Enertec developed and manufactured a deployable mobile
command & control center for medium range ground-to-air missile
defense systems for the same customer. The company expects to
deliver a significant portion of the new second-stage project
during 2018.
ABOUT ENERTEC SYSTEMS
Enertec Systems 2001, Ltd is a wholly owned subsidiary of
Coolisys Technologies, Inc., part of DPW Holdings’ diversified
portfolio. Enertec is Israel’s largest private developer and
manufacturer of specialized electronic systems for the aerospace
and defense markets. The company is recognized for providing
multi-purpose turnkey systems designed to serve in harsh
environments and battlefield conditions. Applications and products
include mission computers, missiles launchers, command and control
systems, automatic testing systems and power supply systems.
Products and solutions are implemented in land and naval combat
electronic systems, command and control centers, simulators and
missiles systems. Enertec also provides precise calibrated
solutions for medical OEMs. Coolisys Technologies acquired Enertec
in May 2018. For more information please see www.enertec.co.il and
www.coolisys.com.
ABOUT DPW HOLDINGS, INC.DPW Holdings, Inc.,
(www.DPWHoldings.com), is a diversified holding company pursuing a
growth strategy of acquiring undervalued assets and disruptive
technologies with a global impact. The Company invests in diverse
industries within the commercial, defense/aerospace, industrial,
communication, medical, crypto-mining, hospitality, textile, and
corporate investment/lending sectors. DPW has evolved and grown
from being a leader in advanced power products. Through its
subsidiaries, the company continues to be a leader and supplier of
innovative technologies, advanced design and development services,
and state-of-the-art power products and solutions. DPW Holdings,
Inc.’s headquarters is located at 201 Shipyard Way, Suite E,
Newport Beach, CA 92663; www.DPWHoldings.com.
Forward-Looking StatementsThe foregoing release
contains “forward looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the anticipated shipment
and revenue recognition of customer orders. These
forward-looking statements generally include statements that are
predictive in nature and depend upon or refer to future events or
conditions, and include words such as “believes,” “plans,”
“anticipates,” “projects,” “estimates,” “expects,” “intends,”
“strategy,” “future,” “opportunity,” “may,” “will,” “should,”
“could,” “potential,” or similar expressions. Statements that are
not historical facts are forward-looking statements.
Forward-looking statements are based on current beliefs and
assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.DPWHoldings.com.
###
Contacts:
Ron Parham or Kirsten Chapman, LHA Investor Relations, 415.433.3777, dwpholdings@lhai.com
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