MONTVALE, N.J., March 16 ,2017 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), (the "Company"), announced today that its Mobile Resource Management (MRM) subsidiary, Micronet ("Micronet") , has received a purchase order from a current customer valued at approximately $2,100,000 for 8,000 units of its TREQ®-317. This significant order received by Micronet, for its rugged Android™ based fix-mount On Board Computer which offers advanced functionality at a competitive price, is expected to be fulfilled during the second and third quarters of 2017.
"We are very pleased to continue working with our valued customers as they build the need for ruggedized products that optimize transportation planning and performance by providing a network of electronic links with the vehicle. Orders of this magnitude help us take the next step in increasing our performance associated with the changing conditions in the MRM/Telematics space," said Ken Wiesner, Chief Executive Officer of Micronet Inc.
Micronet's rugged computing products enable the purchasing customer, a leading U.S. based bulk material supply chain solutions company, to provide optimized transportation planning and performance through a network of electronic links that transacts bulk materials purchases 'just-in-time.' Additionally, the network gives transportation providers instant demand visibility which cuts down on-site wait times and provides proof of delivery, resulting in faster payment processing.
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 Mobile Resource Management (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.
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 expected timing of the delivery of the TREQ®-317 on board computer and the Company taking the next steps in increasing its performance associated with the changing conditions in the MRM/Telematics space.. 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, 2015 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.