Micronet Enertec Technologies Enhances Management Team with New Executives of Business Development & Sales

EMERSON, N.J., Nov. 21, 2013 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQ: MICT), a developer and manufacturer that integrates and globally markets rugged computers, tablets and computer-based systems for the commercial Mobile Resource Management (MRM) market and for the defense and aerospace markets, today announced two strategic executive appointments designed to further position the company as a global leader in the MRM and aerospace markets.

Industry veteran, Mr. Shai Lustgarten, has joined as Executive Vice President of Business Development.

Mr. Lustgarten brings extensive and proven experience in similar positions with industrial global companies operating in international markets in both the commercial and defense electronics fields and related industries. Prior to joining MICT, he served for five years as Vice President Sales, Marketing & CMO of TAT Technologies Group (NASDAQ: TATT), a world leading supplier of electronic systems to the commercial and Aerospace markets. During his tenure with TATT Mr. Lustgarten established, developed and maintained business relationships with major Airlines and Aerospace contractors in the US and worldwide, such as Boeing, Lockheed Martin, Honeywell, Air France – KLM, American Airlines and many others.  Prior to that, Mr. Lustgarten was Director of Business Development of SGD Engineering Ltd, a provider of specialized commercial aviation and Aerospace solutions. 

Prior to his business career, Mr. Lustgarten served as the assistant to the Military Attachee at the Embassy of Israel in Washington, DC. He holds a B.Sc. of Business Management & Computer Science from the University of Maryland.

Mr. Sandy Mayer, appointed as sales and marketing manager for the North America market in Micronet Ltd, our MRM subsidiary and division, brings over 20 years of business experience in the Telematics, Wireless and location-based services industries. Prior to joining our group, Mr. Mayer held several leadership positions, most recently serving as Mobile Device Ingenierie's general manager for the Americas, where he oversaw the company's successful penetration and growth throughout the continents. Previously, Mr. Mayer was co-founder of SigmaOne Communications, a pioneer in location-based services. 

"We are excited to have Shai and Sandy join MICT group," commented David Lucatz, Chief Executive Officer of Micronet Enertec Inc. "Their proven experience in sales and marketing in our primary sectors of focus will be invaluable in the coming months as we expand our footprint globally and pursue new opportunities in both the MRM/Fleet Management and the aerospace markets. We now have the senior sales leadership in place, matched perfectly with our next generation of innovative products and technology solutions."

"I am thrilled to join MICT at this time of rapid growth and new market entry," commented Mr. Lustgarten. "Micronet Enertec's solutions are among the most advanced in the industry, and I look forward to taking our sales to the next level by expanding our brand, broadening our distribution, adding new channels, and working with our defense and technology VAR and service provider partners."

About Micronet Enertec Technologies, Inc.
MICT is a technology company that designs, develops, manufactures and sells rugged mobile computing devices that provide the MRM (Mobile Resource Management) market, fleet operators and field workforces with computing solutions in challenging work environments.

The Company operates through two subsidiaries, 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.  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. For more information please visit: www.micronet-enertec.com.

Forward-looking Statement

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 future growth and rates of growth, new market entry, pursuing new opportunities, expansion of the company's brand, broadening distribution and addition of new channels.  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, 2012 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.

SOURCE Micronet Enertec Technologies, Inc.