MONTVALE, N.J., Nov. 17, 2017 /PRNewswire/ -- Micronet
Enertec Technologies, Inc. (NASDAQCM: MICT), (the "Company"),
announced today that its Mobile Resource Management (MRM)
subsidiary, Micronet Inc., has received a purchase order from a
current customer, a leading U.S. telematics service provider,
valued at $1,900,000 for its
TREQ®-317.
In the last 7 months Micronet has received orders for an
aggregate of over $14 million, which it believes continues
to demonstrate the strong demand for Micronet's state of the art
technological solutions for the telematics and the electronic
logging device (ELD) market.
The TREQ®-317 is a rugged Android™ based fix-mount on board
computer offering advanced functionality at a competitive price.
Micronet's TREQ®-317 enables its users to provide real-time
monitoring of both vehicle and driver activity and is fully
compliant with ELD regulations.
"We are very pleased to continue working with our valued
customers. We believe that new orders from current customers are a
clear indication of the value our products deliver in the MRM
space. We believe that the continued and increasing demand for our
advanced Android based computing systems supports Micronet in
expanding its product offerings and becoming a leading provider in
the rapidly expanding MRM/telematics market," said David Lucatz,
Chief Executive Officer of Micronet Enertec Technologies, Inc.
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) provides
high tech solutions for severe environments and the battlefield,
including missile defense technologies for Aerospace & Defense
and rugged mobile devices for the growing commercial MRM market.
MICT designs, develops, manufactures and supplies customized
military computer-based systems, simulators, automatic test
equipment and electronic instruments, addressing the defense
industry. Solutions and systems are integrated into critical
systems such as command and control, missile fire control,
maintenance of military aircraft and missiles for the Israeli Air
Force, Israeli Navy and by foreign defense entities. MICT's
MRM division develops, manufactures and provides mobile computing
platforms for the mobile logistics management market in the U.S.,
Europe and Israel. American-manufactured systems are
designed for outdoor and challenging work environments in trucking,
distribution, logistics, public safety and construction.
Forward-looking Statements
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 belief that new orders from current
customers are a clear indication of the value its products deliver
in the MRM space and demonstrate the strong demand for Micronet's
state of the art technological solutions for the telematics and the
ELD market, as well as the Company's belief that the continued and
increasing demand for its advanced Android based computing systems
supports Micronet in expanding its product offerings and becoming a
leading provider in the rapidly expanding MRM/telematics market.
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, 2016 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.
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SOURCE Micronet Enertec Technologies, Inc.