SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

November 04, 2009 09:00 ET

NavStar Technologies, Inc. Issues a Shareholder Update

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. (PINKSHEETS: NVSR), a firm focused on developing and commercializing multi-national asset tracking and monitoring devices for vehicles and high value cargo, today issued a shareholder update on several key initiative for the last 60 days of 2009.

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.

Contact Information

  • CONTACT:
    NavStar Technologies, Inc.
    Patrick Bannister
    714-502-6900
    Email Contact