DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“
DPW,” or the “
Company”)
announced that its global defense and technology business, Gresham
Worldwide, Inc. (“
Gresham Worldwide”), has entered
into an agreement to develop medical testing facilities with Align
Technology, Inc. (NASDAQ: ALGN), a global medical device company,
through Gresham Worldwide’s wholly owned subsidiary, Enertec
Systems 2001, Ltd. (“
Enertec”).
Enertec, based in Israel, is a leading provider
of high-quality, highly reliable bespoke technology solutions for
mission-critical applications in the defense, aerospace and medical
industries, including advanced multi-purpose electronic systems
with customized computer-based automated test equipment.
In the first phase of the development project,
Enertec will place a team of experienced engineers on-site with the
customer to study the medical device company’s products and needs.
In the second phase, Enertec will provide customized, advanced
testing systems. Enertec has been in business for more than 30
years and Enertec’s CEO, Zvi Avni, has over 35 years of experience
developing advanced testing systems.
Enertec’s CEO, Zvi Avni said, “We look forward
to the development of advanced testing systems for our new
customer, Align Technology, Inc., leveraging Enertec’s position as
a leading provider of complex testing solutions for the defense,
aerospace and medical industries, both at home and abroad. Israel
is considered to be among the world leaders in the field of medical
devices, and we expect to see continued growth in the sector.”
“Expanding its portfolio of business in the
medical field adds to momentum at Enertec,” said Jonathan Read,
Gresham Worldwide’s CEO. “This recent contract demonstrates that
demand for Gresham’s technology offerings remains strong. The
expansion of Enertec’s testing systems, among other products,
reflects the confidence and the trust that this global medical
device company has to work with Gresham on what we expect will be a
long-life cycle platform program. We remain optimistic that Gresham
can achieve its goals for significant growth in 2020 and 2021.”
For more information on DPW and its
subsidiaries, the Company recommends that stockholders, investors
and any other interested parties read the Company’s public filings
and press releases available under the Investor Relations section
at www.DPWHoldings.com or available at www.sec.gov.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding
company pursuing growth by acquiring undervalued businesses and
disruptive technologies with a global impact. Through its wholly
and majority-owned subsidiaries and strategic investments, the
Company provides mission-critical products that support a diverse
range of industries, including defense/aerospace, industrial,
telecommunications, medical, and textiles. In addition, the Company
extends credit to select entrepreneurial businesses through a
licensed lending subsidiary. DPW’s headquarters are located at 201
Shipyard Way, Suite E, Newport Beach, CA 92663;
www.DPWHoldings.com.
About Gresham Worldwide
Gresham Worldwide, formerly known as DPW
Technology Group, is a provider of high-quality, ultra-reliable
bespoke technology solutions for mission-critical applications in
the defense, medical and telecommunications verticals. The three
component companies under the leadership of CEO, Jonathan Read, are
Microphase Corporation, Enertec Systems 2001 Ltd. and Gresham Power
Electronics Ltd. Each has decades of experience serving global
defense markets. Gresham Worldwide operates with a global footprint
with headquarters in Phoenix, Arizona, an office in Washington D.C.
and design and operations centers in Shelton, Connecticut,
Salisbury, U.K., and Karmiel, Israel.
Forward-Looking Statements
This press 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. 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: IR@DPWHoldings.com or
1-888-753-2235
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