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Quest Solution Signs Follow-on Agreement for the Manufacture and Supply of Approximately $3M Worth of Mobile Computers

Quest to manufacture and supply sophisticated computerized equipment to be used for field control and decision making situations

Eugene, Oregon, December 20, 2018 (GLOBE NEWSWIRE) -- Quest Solution, Inc. (OTCQB: QUES), (“Quest” or “the Company”) a provider of Supply Chain and Artificial Intelligence (AI)-based Machine Vision solutions, announces that its wholly owned subsidiary, HTS Image Processing, Inc. (“HTS”), has signed an extension to its supply agreement with an existing customer through December 31, 2019. The extension is valued at approximately $3 million for the manufacture of a forecasted 5,500-6,000 portable, rugged computer based units.

Shai Lustgarten, CEO of Quest, commented: “We are pleased to have extended this important contract and are focused on further developing and enhancing this partnership going forward. We view this contract renewal as a validation of our state-of-the-art technical capabilities and believe our newly acquired technical expertise will enable us to integrate superior tailored equipment into our Artificial Intelligence and Supply Chain Solutions, improving performance and increasing profitability. We look forward to our continued work with our current customer base, and to attracting new customers and introducing new white label products for supply chain applications. The newly acquired segment of our business provides predictable recurring orders and diversifies our revenue stream, providing an important strategic advantage as we focus on growing our Company.”

Mr. Lustgarten concluded, “With our proprietary new AI technology and enhanced technical capabilities, we are focused on continuing to leverage our strong Fortune 500 customer base, offering them unique solutions that integrate our AI technology with Quest legacy products.”

https://finance.yahoo.com/news/quest-solution-signs-agreement-manufacture-133000299.html