Regulatory Filings • Dec 30, 2012
Regulatory Filings
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PRESS RELEASE Airport City, Israel, December 30, 2012
UNITRONICS (1989) (R"G) LTD.
Airport City, Israel – December 30, 2012 - Unitronics published the attached Immediate Report pursuant to the requirements of the Israeli law, in connection with signing of an agreement for the design, supply and construction of an automated parking facility for a client in USA.
Unitronics (1989) (R"G) Ltd. is an Israeli company that engages, through its Products Department, in the design, development, production, marketing and sale of industrial automation products, mainly Programmable Logic Controllers ("PLCs"). PLCs are computer-based electronic products (hardware and software), used in the command and control of machines performing automatic tasks, such as production systems and automatic systems for industrial storage, retrieval and logistics. The Company also engages, through its Systems Department and/or its subsidiaries, in the design, construction and maintenance services in the framework of projects for automation, computerization and integration of computerized production and/or logistics systems, mainly automated warehouses, automated distribution centers and automated parking facilities. The Company's PLCs are distributed by over one hundred and forty distributors (and a wholly owned US subsidiary) in approximately fifty countries throughout Europe, Asia, America and Africa. The services of the Systems Department are provided to customers in Israel and also outside Israel.
This press release contains certain forward-looking statements and information relating to the Company that are based on the beliefs of the Management of the Company as well as assumptions made by and information currently available to the Management of the Company. Such statements reflect the current views of the Company with respect to future events, the outcome of which is subject to certain risks and other factors, which may be outside of the Company's control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described herein as projected, anticipated, believed, estimated, expected or intended.
The Company herewith reports that on Friday 28-12-2012 it has signed (through its wholly owned subsidiary incorporated in the United States, Unitronics Systems Inc.) an agreement with a US customer unrelated to the company or its controlling shareholders (the "Customer") for the construction of an automated parking facility for such Customer in Hoboken, New Jersey, USA (the "Project").
The Project is estimated at an aggregate sum of USD approximately 3,800,000 (app. NIS 14,250,000). The consideration is expected to be payable according to progress of milestones in the performance of the Project. The Company will recognize income from this Project in its financial statements according to the extent of completion method, based upon completion of engineering phases of the work performed in the Project. The Project is expected to be completed during the second half of the year 2014.To secure its obligations under the Project the Company undertook to provide certain guarantees.
The Project is added to the Company's expanding operations in the Automated Parking Solutions domain, which began in recent years in Israel, the U.S. and other countries. A number of agreements were already executed, including agreements in connection with the following projects which are in various stages of implementation (as published by the Company in respect of which, include hereby by reference, as follows):
| Location | Estimated volume | Reference of the reported | Date of the Report |
|---|---|---|---|
| publications (TASE) | |||
| Mexico | Euro 2.3 Million | 2009-01-306969 | 02.12.2009 |
| USA, California | US Dollar 2.6 Million | 2011-01-14534 | 11.05.2011 |
| Continued Report: | |||
| 2011-01-189291 | 21.06.2011 | ||
| Israel, Tel-Aviv | NIS 5.2 Million | 2012-01-008397 | 05.01.2012 |
| Israel, Tel-Aviv | NIS 1.2 Million | Not published due to lack of | - |
| essence | |||
| USA, New Jersey | US Dollar 3.8 Million | This Report | 30.12.2012 |
In addition, in the framework of the Company's marketing and development activity in the domain of automated parking solutions, the Company is involved, directly and through its wholly owned subsidiaries, in penetration and marketing activities, in different stages, including the activities of planning and engineering in connection with a number of other projects in Israel, the U.S. and other countries. The Company assess that its involvement in the design and engineering of the potential projects may promote its chances to be chosen to perform such projects. Although the sale process of such projects takes a long time, the Company believes that its involvement in such projects may already begin in the upcoming quartersi . However, there is no certainty that the Company will be chosen to perform these projects, or some of them and if chosen to perform, there is no certainty that negotiations with the Company on the terms will result in signed agreements for the performance of the whole project or part of a project and there is no certainty regarding the terms of such agreements.
i Information regarding the signing of agreements with customers and / or potential schedules regarding such agreements is a forward-looking information. The main data used as a basis for this information are: the company prior experience in other projects in this domain and in the Systems domain, according to such, an early engineering activity helps the Company to maintain a good relationship and constant contact with customers and allows the company to customize the proposed solution to the customer a way that improves and increases the chance of winning an order for a project. The main factors that may prevent such information from materializing are: the project performance is not guaranteed in time of the engineering design phase and some of the projects may be canceled or may not obtain the required permits. Customers are not obliged to order the project from the Company, at the time of ordering the project the client examines the Company's proposal based on the criteria of quality and price and then makes a decision about the identity of the selected supplier.
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