NVSR (2)X0.007 /(2)X0.0075 up 188%. Multi day play NEWS:
Posted by: WiseTrader Date: Monday, June 01, 2009 9:40:09 AM
In reply to: None Post # of 1495017
IN NVSR 0.0029 / 0.0030 Huge News & Bottom Play :
Monday, June 01 2009 8:31 AM, EST NavStar Technologies, Inc. Signs LOI for Distribution Into Japan Market Wire "US Press Releases "
ANAHEIM, CA -- (MARKET WIRE) -- 06/01/09 -- NavStar Technologies, Inc. (PINKSHEETS: NVSR) announced today it will be partnering with Haengbok Cha to provide asset tracking equipment to Japan . The partnership will include providing equipment, software and related services. The initial focus will be on the NavStar Fleet Management System and will allow owners of commercial and private vehicles to track and monitor the location of their equipment and high value cargo. Service can be as simple as shutting a vehicle down if stolen to providing customized detailed productivity reports. The agreement for hardware and services is expected to generate $2 million in revenue in the first 12 months.
"With the NavStar Fleet Management System, we get a proven product and reliable service. There is a huge opportunity in Japan as market research report 'GPS Market Update' published by RNCOS concludes that Japan has emerged as the leader in purchase of GPS systems with penetration of 44%, followed by the US and European Union . The bulk of these purchasers are eager to make their vehicles an intelligent-transportation system," said Haengbor Cha.
"We are pleased to announce the signing of this distribution LOI with Haengbok Cha and are looking forward to more in depth discussions on exclusivity, a possible joint venture and a direct investment in NavStar . Mr. Cha has extensive distribution capacities and contacts in Japan that would take us years to duplicate. We will focus our initial distribution efforts with Mr. Cha in Japan and have agreed to jointly review other opportunities in the Far East," said N. Douglas Pritt , Chairman & CEO, NavStar Technologies, Inc. "This agreement requires the purchase of a minimum of 10,000 units every 12 months."
About NavStar Technologies, Inc.
NavStar is focused on the creation of GPS products and services that provide wireless tracking of vehicles, equipment, and other valuable and personal assets. The goal is to be a total solutions provider.
CONTACT: NavStar Technologies, Inc. Patrick Bannister 714-502-6900 Email Contact
