SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

February 15, 2011 09:00 ET

NavStar Technologies Announces Partnership With Riviera Finance to Assist Trucking Companies With the Purchase of EOBR Devices

ANAHEIM, CA--(Marketwire - February 15, 2011) - NavStar Technologies, Inc. (PINKSHEETS: NVSR), a company focused on producing and commercializing products and services for tracking/monitoring and reporting on the location and condition of high value cargo and other assets, today announced it has partnered with Riviera Finance of Redondo Beach, California to assist Trucking companies that will need financing to purchase Electronic On Board Recorders (EOBR). Recently, the U.S. Department of Transportation's Safety Division (FMCSA) has mandated trucking companies with safety violations be required to install EOBRs in their trucks. On January 31, 2011, the FMCSA introduced a proposed rule that would now require every interstate truck to install an EOBR.

NavStar is currently introducing its EOBR to the trucking industry, and is focusing on small to mid- size companies. In particular, the Owner Operator segment, as they are the ones most affected by these new rules. Many of these companies will require financing to purchase EOBRs. Riviera Finance has assisted the trucking industry finance their businesses for 42 years. Over 20,000 truck companies have used Riviera to fund their trucking business since 1969. Riviera has 15 branches in the U.S., and has assisted trucking companies by financing over 77,000 invoices in 2011 already.

NavStar believes that by offering prospective EOBR clients a built in financing option, it will offer a complete EOBR solution for all trucking companies. NavStar will be involved with the process from installation, to financing, to monthly monitoring, to reporting required documents to the FMCSA. The single biggest complaint from the trucking companies, especially the owner operators, has been the financial burden to their companies that EOBRs will put on them. NavStar believes that its partnership with Riviera Finance will assist these companies in their transition from paper logs to EOBRs.

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.

About Riviera Finance.
Founded in 1969, Riviera Finance is nationally recognized as a leader in business financing. Riviera Finance provides full-service, non-recourse invoice factoring to growing companies. They are the experts in accounts receivable management. Riviera Finance maintains offices throughout North America to provide face-to-face service and expert financial solutions to small and medium-sized businesses. Currently serving more than 1,200 clients, Riviera holds the highest credit rating in the industry and has shown consistent and positive earnings while maintaining a diversified capital base, including managing 20,000 customer accounts per month.

Contact Information

  • CONTACT:

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