Pointer Telocation Announces the Win of a $3M Project to Provide Advanced
Solutions for Fleet Management in Brazil
ROSH HAAYIN, Israel, Oct. 30, 2013
ROSH HAAYIN, Israel, Oct. 30, 2013 /PRNewswire/ --Pointer Telocation Ltd.
(Nasdaq CM: PNTR) - a leading developer, manufacturer and operator of Mobile
Resource Management (MRM) and roadside assistance services for the automotive
industry, announced that it has been awarded a supply and installation
contract to provide advanced solutions to manage a fleet of vehicles in
Brazil. The contract is worth approximately $3 million with revenues expected
to commence in the fourth quarter of 2013. The advanced solutions will enable
the customer to effectively manage its fleet of over 3,000 motor vehicles.
Pointer's telemetry solution, with integration into the customer's Enterprise
Resource Planning (ERP) system, will enable the customer to effectively track
and manage fuel consumption of its motor vehicles, prevent fuel waste and
unauthorized use of the vehicle, improve productivity and reduce accidents.
The system to be installed in Brazil also includes a package of solutions to
manage a fleet of vehicles with advanced control and command technologies. The
Pointer system also enables the customer to achieve better control and
increased efficiency of its employees.
David Mahlab, President and CEO of Pointer said: "We are very pleased that a
Brazilian customer of such a significant size chose our solutions over those
of our competition. This agreement is another positive result from our
consistent growth strategy for the Company's operations abroad and will
increase revenues and profitability of the Company. This transaction in Brazil
is proof of our ability to sign and close large agreements in the markets in
which we operate, as well as the attractiveness of our unique technology and
services to those markets. Finally, it marks another success of, and further
strengthens our confidence in, our operations in Brazil and supports our
decision to purchase the entire holdings in our Brazilian subsidiary which was
recently concluded" stated Mr. Mahlab.
About Pointer Telocation:
Pointer Telocation is a leading provider of technology and services to the
automotive and insurance industries, offering a set of services including Road
Side Assistance, Stolen Vehicle Recovery and Fleet Management. Pointer has a
growing list of customers and products installed in 50 countries. Cellocator,
a Pointer Products Division, is a leading AVL (Automatic Vehicle Location)
solutions provider for stolen vehicle retrieval, fleet management, car &
driver safety, public safety, vehicle security and more. The Company's top
management and the development center are located in the Afek Industrial Area
of Rosh Ha'ayin, Israel.
For more information:http://www.pointer.com
Forward Looking Statements
This press release contains historical information and forward-looking
statements within the meaning of The Private Securities Litigation Reform Act
of 1995 with respect to the business, financial condition and results of
operations of the Company. The words "believe," "expect," "anticipate,"
"intend," "seems," "plan," "aim," "should" and similar expressions are
intended to identify forward-looking statements. Such statements reflect the
current views, assumptions and expectations of the Company with respect to the
proposed acquisition and other future events and are subject to risks and
uncertainties. Many factors could cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements that may be expressed or implied by such
forward-looking statements, including, among others, changes in the markets in
which the Company operates and in general economic and business conditions,
loss or gain of key customers and unpredictable sales cycles, competitive
pressures, market acceptance of new products, inability to meet efficiency and
cost reduction objectives, changes in business strategy and various other
factors, both referenced and not referenced in this press release. Various
risks and uncertainties may affect the Company and its results of operations,
as described in reports filed by the Company with the Securities and Exchange
Commission from time to time. The Company does not assume any obligation to
update these forward-looking statements.
Zvi Fried, V.P. and Chief Financial Officer Gelbart-Kahana Investor
Tel.; 972-3-572 3111 Tel: 972-3-607 4717,
E-mail: firstname.lastname@example.org E-mail: email@example.com
SOURCE Pointer Telocation Ltd.
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