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The NavStar/Argo Combined Companies Provide a Unique Platform for New Products and ServicesResponse to Argo Navigation Acquisition Has Been Very Positive
Argo Navigation, Inc. (Argo) is one of the Global Positioning System (GPS) industry's most advanced design and development companies for fleet management products with a proven product and a strong commercial customer base in South America, Mexico, China and Canada. NavStar Technologies, Inc. (NavStar) is launching its combined bluetooth hands-free car kit with voice navigation in the US consumer and commercial GPS market and will provide an affordable, easy to use, feature rich product. The two companies completed the acquisition this week. With a common approach to product development (thin client/server), Argo and NavStar have already formulated product development plans to combine the features of both products into a common device. Hands-free calling and voice navigation can be added to Argo's Fleet Management product line and tracking capability can be added to NavStar's Voice Navigator. This will be the GPS industry's first product with these features and could be available as early as the 1st quarter of 2009. Other new product ideas include a trailer/container tracking device, new web based tracking software and a "wearable" personal tracking device. Revenue for 2008 has been projected to be between $3M to $5M. The recent announcement about the agreement in Ecuador and additional LOIs and contracts in process make this a realistic estimate. Revenue projected for 2009 could exceed $15M. With Argo's established customer base in Canada, Mexico, Ecuador, Venezuela, Brazil, China and the US, the combined company is positioned to provide consumer and commercial products and services around the world. "Argo and NavStar products are poised to take full advantage of the rapidly increasing domestic and international demand for vehicle tracking, hands-free navigation assistance," said Mr. N. Douglas Pritt, President and CEO, NavStar Technologies, Inc. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of U.S. federal securities laws, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. NavStar assumes no obligation to update any forward-looking statement contained in this press release. About NavStar Technologies, Inc. NavStar Technologies, Inc. is focused on the creation of products and services for asset tracking and combining hands-free calling with voice GPS navigation. Tags: ,Automotive:Cars, Lifestyle and Leisure:Family, LifestyleandLeisure:Recreation, RealEstateandConstruction:CommercialRealEstate, Retail:ConsumerElectronics, Telecom:TelecommunicationServices, Telecom:Wireless, TransportationandLogistics:Trucking, ,INTHPINK,INTHPINK,CA,ANAHEIM, CA _ _Is your favorite bookmark site missing? Ask for it. |
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