SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

February 21, 2012 08:30 ET

NavStar Technologies, Inc. to Leverage New Technology Hardware Platform to Satisfy US Automobile Insurance Industry Focus on Stolen Vehicles

ANAHEIM, CA--(Marketwire - Feb 21, 2012) - 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, has developed a unique hardware platform to address multiple tracking and monitoring market segments.

NavStar announced today that it will leverage its new technology hardware platform to provide an ultra-low cost solution to assist in the recovery of the 700,000+ vehicles that the Federal Bureau of Investigation (FBI) reports are stolen each year in the US. The FBI reports that one vehicle is stolen every 43 seconds and the estimated value of stolen vehicles in the US is nearly $4.5 billion.

"Insurance companies and auto leasing companies are very interested in installing an electronic 'black box' than can assist with recovery when a vehicle is stolen. In the past, an affordable hardware solution has been an inhibitor in addressing their concern. Our technology hardware platform is being designed with hardware flexibility and software features that satisfy this specific market," said N. Douglas Pritt, Chairman & CEO, NavStar Technologies, Inc.

Pritt continued, "For the US automobile market we will include J1962 (OBD2) interface for passenger vehicles so our black box can access the automobile's standard bus system. Our unit will also have a rechargeable backup battery so if the power cable is cut we can still track and monitor the vehicle for up to 48 hours. This 'feature rich' solution will be the first of its kind in the industry."

The National Insurance Crime Bureau reports that California, Texas and Florida are the three states with the most stolen vehicles; NavStar will focus its initial product/service offering in these three states.

About NavStar Technologies, Inc.
NavStar (www.navstarinc.com) is a rapidly growing provider of asset tracking products and services in the US and in emerging countries around the world. With a proven product and 20,000 units in service, we provide an affordable solution to protect and monitor high-value assets and cargo. NavStar's overall goal is the creation of products and services which support a variety of market segments including, cars, trucks, recreational vehicles and people.

Contact Information

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