HADERA, Israel, April 6, 2005 (PRIMEZONE) -- Malers Automation and Control Ltd. ("Malers") (Pink Sheets:GXXL), today announced that the Company, through new partnerships in Eastern Europe, will generate sales in excess of $2 million dollars.
"The relationship with our Russian partners, Automatic Service, is proving to be quite effective," says Ronen Luzon, CEO of Malers. "We have identified several vertical markets throughout Eastern Europe where we can generate high demand for our systems and our new PLC-SER (Programmable Logic Controller-Sequence Event Recorder). We project sales in excess of $2 million for the coming 18 to 24 months. Once we have sufficiently opened these new distribution channels, we intend to take a similar tact in other parts of the world."
The companies are currently in the final stages of negotiations with distributors in the target markets, where timing is now of the essence. Eastern Europe has a wealth of industries, the majority of which are in need of overhauling or modernization. They will first target the most critical industries, such as power plants and oil refineries. Malers will work closely with Automatic Service and the new distributors to ensure that the Company maximizes its revenues in this region.
About Malers
Malers Automation and Control Ltd. is an Israeli systems company that develops, manufactures, sells and maintains automation and control systems for industrial applications. The Company produces turn-key systems that replace labor intensive, error prone and costly manual production and monitoring functions. Since the Company's inception in 1996, Malers' custom designed systems have been installed in major industrial applications worldwide. Their systems offer centralized and remote control of complex manufacturing processes, and data collection and analysis systems.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.