SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

December 07, 2009 11:00 ET

NavStar Technologies Inc. Sharpens Focus on the $500M Market Opportunity in Mexico and Ecuador

NavStar Adds Sales Director for Latin America With Immediate Focus on Ecuador and Mexico

ANAHEIM, CA--(Marketwire - December 7, 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 announced the appointment of Arturo Mondragon as Regional Sales Director for Latin America. Mondragon has more than 20 years experience in the telecommunication market, and his extensive experience with local carriers in Central and South America will be extremely valuable as Navstar accelerates their plans in Latin America.

Mondragon's immediate focus will be to execute the signed distribution agreements already in place in Ecuador and Mexico which are valued at $50M+ over the next three years. The market opportunity for the next 5 years in Mexico, Brazil and Ecuador is over $2B. Asset tracking penetration is less than 5% with 12M vehicles in service.

"We are pleased to welcome Mandragon to NavStar Technologies. It is rare to find someone with the experience necessary to integrate tracking devices with telecommunication networks and web application services," says N. Douglas Pritt, Chairman & CEO, NavStar Technologies Inc, "His knowledge, as well as hands-on experience with our product line, will serve our customers in the Central and South America region well."

"With the NavStar asset tracking product folio, we get products with a great quality reputation, excellent services and a very strong technical team. There is a huge opportunity for both NavStar and Fixed Equipment S.A in Ecuador," said Roberto Manosalvas, General Manager, Fixed Equipment S.A. (www.fixgroup.net) "NavStar is a trusted partner, and adding a sales director to focus on Latin America is a definite advantage."

Chung Hee Lee, President & CEO, Global Fire & Tech Inc. says, "We are pleased to see NavStar's additional focus on Latin America. With the law recently passed in Mexico, which requires all commercial vehicles to have tracking devices, the opportunity is huge for both GF&T and NavStar. Our distribution network in Mexico is well established and NavStar will be able to leverage it immediately."

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