Key Developments For Pointer Telocation Ltd.
Pointer Telocation Ltd. (PNTR.O) (Consolidated Issue listed on NASDAQ Capital Market)
Nexus Telocation Systems Announces Negotiations By Shagrir For Formation Of Joint Venture With Multimatrix Ltd., For Provision of Services To Insurance Companies In Field of Dental Care
Nexus Telocation Systems announced that its subsidiary, Shagrir Systems Ltd., is negotiating the formation of a joint venture with Multimatrix Ltd., a public company traded on the Tel Aviv Stock Exchange. The purpose of the joint venture is the possible purchase of 50% of the activities of the IRM Group, which has been active for the past eighteen years in providing services to insurance companies in the field of dental care, for an amount of approximately NIS 20 million, subject to adjustments. The agreement between Shagrir and Multimatrix and between the joint venture and IRM Group would be subject, among other conditions, to the completion of a due diligence review to the satisfaction of Shagrir. The terms of the transaction were not disclosed.
Nexus Telocation Systems' Shagrir To Acquire 51% In CAR2GO
Nexus Telocation Systems announced that its Israeli subsidiary, Shagrir has entered into a definitive agreement to invest in CAR2GO, an Israeli company that offers carsharing services in urban areas. In accordance with the terms of the agreement, CAR2GO will issue to Shagrir 51% of its share capital.
Pointer Telocation Limited Raises FY 2008 Guidance
Pointer Telocation Limited raised its fiscal 2008 guidance and expects revenue to be $76 million, and operating income (EBIT) to be $8.0 million.
Pointer Telocation Limited Receives EURO 2 Contract Million In Romania
Pointer Telocation Limited announced EURO 2 million in two years contract to Shagrir's subsidiary in Romania. Shagrir provides RSA, SVR and Fleet Management services to over 750,000 customers in Israel. Shagrir's subsidiary in Romania, S.C. Pointer S.R.L, will provide Road Side Assistance in Romania starting October 1st, 2008 for EUR 2 million, over a period of two years, to a large Romanian-based petrol company that will offer the services to its customers.
Pointer Telocation Limited Reaffirms FY 2008 Guidance
Pointer Telocation Limited announced that it continue to maintain previously discussed guidance for fiscal 2008.
