The premises include floor space, utilities, equipment and machinery that can be used to manufacture various components of mobile robots and other products for both civilian and military applications. These products will be marketed and sold by InRob and its strategic partners.
Under the terms of the agreements, InRob has the capabilities to manufacture products with a total value of up to US$28,500,000. Full details of this agreement are included in the Form 8-K recently filed with the SEC.
"International expansion is an integral part of our corporate strategy," says Ben Tsur Joseph, InRobs President. "This agreement secures important and advanced manufacturing facilities for our world-wide operations. We are seeing very strong market interest in our wireless remote control systems and robot solutions, and these facilities will enable us to meet the demand for our products in 2008 and beyond. This agreement also gives us a strong base in the important Asia Pacific region and the ability to react quickly to our customers needs. This is particularly critical for our military customers who face constantly changing tactical environments and require solutions as quickly as possible."
For more information, please send your e-mails to swm@infothe.com.
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