Press Release:
Press Release
News Article February 2005
GIVATAYIM, Israel, February 24/PRNewswire-FirstCall/ -- Nexus Telocation Systems Ltd. (OTC Bulletin Board: NXUSF), a leading provider of Stolen Vehicle Retrieval services, announced its entering into the Mexican market. Launching of services in greater Mexico City was celebrated yesterday.
The services will be rendered by the local Mexican operator and service provider, Pointer recuperacion de Mexico S.A. de C.V., jointly held by Nexus Telocation Systems Ltd. and its Mexican local partners, 68% and 32% respectively.
Pointer recuperacion de Mexico S.A. de C.V. offers a broad scope of services, based on Nexus' technology and know-how of location based services, stolen vehicle retrieval, security and asset control and management markets targeting Mexican corporations.
Mr. Arik Avni, CEO of Nexus, commented, "We are confident in our ability to deliver high transparent value for money to our customers in Mexico, based on our innovative services and offering. We believe that our Mexican partners' in depth knowledge of the Mexican market needs coupled with our broad experience in operations mainly through our subsidiaries in Israel and Argentina will enable us to capitalize on the high potential Mexican market".
Mr. Yossi Ben-Shalom, Chairman of Nexus added: "We are extremely pleased to launch a new operation in Latin America, after more than three years and expect it to be one of our growth engines. In addition, simultaneously with developing our existing operations, we are contemplating our next initiatives."
Nexus Telocation Systems Ltd. develops, manufactures and markets low energy and cost effective wireless communications and location based information systems through the application of digital spread spectrum technologies and provides Stolen Vehicle Retrieval services in Israel Argentina and Mexico.
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