SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

September 29, 2009 09:00 ET

NavStar Increases Focus on Asia and Potential $63M to $100M Revenue Opportunity

ANAHEIM, CA--(Marketwire - September 29, 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 a major focus on Asia as a result of joint venture opportunities with Oplus Traders, Inc., Cha Partners, PRtools and Eway54.

Market research indicates that there is an immediate opportunity to sell and distribute Fleet Management products and services in Japan, Korea and the Philippines. The combination of NavStar products and services with the investor/partner in-country experience and extensive business connections is a winning solution. The RNCOS market research report titled, "GPS - Fleet Management Services," reports that the Asian market is expected to swell to over 5.2 million units, with yearly service sales crossing the $2.1 billion mark in the next several years.

Sales penetration of 3% in the Asian market represents a realistic forecast of $63M for NavStar products and services on the low side and more than $100M with an aggressive forecast.

"These joint ventures represent a huge opportunity for NavStar, and the enthusiasm of the three investors/partners has us excited as they have identified new market opportunities for tracking and monitoring beyond vehicles, construction equipment and people," said N. Douglas Pritt, Chairman & CEO, NavStar Technologies, Inc. "We have been working on all three of these relationships for the past six months and feel like the Asian market opportunity is maturing and we intend to be a major player and plan to start shipping products in the first quarter of 2010."

Paul Lee, CEO of PRtools, said, "Providing solutions to help make the sacred duty of giving assistance to family members (aging members and young members) is a big priority to the Asian community. The NavStar web-based platform with GPS tracking and monitoring is a natural extension of products and service we currently offer. We expect there will be tremendous growth for the NavStar solution for the next 5 to 7 years."

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