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NavStar Technologies, Inc. Issues a Shareholder Update NOV 4, 2009 - 09:00 ET
FOR: NAVSTAR TECHNOLOGIES, INC.
NavStar Technologies, Inc. Provides an Update on the Company's Focus for November and December 2009 ANAHEIM, CA--(Marketwire - November 4, 2009) - NavStar Technologies, Inc. ( Dear Shareholders, As you know, significant progress has been made this year to identify partners in several countries and to get distribution agreements signed. This effort, while time consuming and difficult, will result in purchase orders for NavStar products in late 2009 and first quarter of 2010. Below is an update on a few of the "near term" opportunities that will unfold in the next 60 to 90 days.
* The contract with the transportation department in Ecuador is in the
final stages of the field trial and units will ship in early 2010. We
are the vendor of choice and delays are due to personnel changes
within the government of Ecuador.
* Final terms for a Joint Venture in Korea have been finalized and will
be signed this month.
* A field trial with a US trucking company will begin in late November
or early December.
* The opportunity that was announced in early October for distribution
into the Middle East is still alive but taking much longer than
expected to reach agreeable terms and conditions.
The effort to get a distribution agreement signed, conduct a field trial and get a purchase order takes time and has of course been more difficult given the current economic climate. In spite of these conditions we have established a diverse customer base and have 6 significant agreements in place as we conclude 2009 and start 2010. For a more in-depth review of the company plans for the rest of 2009 and projections for 2010, look for an interview with NavStar's Chairman and CEO N. Douglas Pritt later today at www.tradergains.com. About NavStar Technologies, Inc.
NavStar (www.navstarinc.com) is focused on the creation of products and
services that provide tracking and monitoring of vehicles and high value
cargo, equipment, and other valuable and personal assets.
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