LAS VEGAS, Nov. 23, 2005 (PRIMEZONE) -- InRob Ltd. ("InRob") (OTCBB:IRBL), a world leader in the development and production of advanced wireless control systems and integrated solutions for unmanned ground vehicles (UGV), today announced that it is in advanced negotiations with a very large defense company for the worldwide exclusive marketing of three major UGV's.
The proposed contract, if signed, will extend for the next eight years and will include the marketing of jointly developed UGV's: the Hornet MK-5, the FFR-1, and the TSR-700. The latter UGV is a huge, heavy-duty piece of equipment used for military and homeland security applications. For obvious reasons, the name of the defense company cannot yet be disclosed.
"Our marketing team is already in place to successfully implement this agreement upon signing," notes Ben-Tsur Joseph, CEO of InRob Tech. "Over the last several months, we have been fostering our relationships with government officials in many countries, which should give us outstanding leverage if we finalize this agreement. The defense and homeland security markets are ripe for these products and the timing couldn't be better."
The Company will publish a formal announcement upon the signing of the agreement, which is expected to take place later this month.
About InRob Tech
InRob Tech is an Israeli-based high-tech company specializing in the planning, manufacturing and service support of advanced wireless and remote control systems, operating all types of robots and other vehicles. The Company is Israel's leader in its field, and supports the IDF (Israeli Defense Forces), Israeli police, and other military and civilian companies dealing with security. Founded in 1988, the Company works closely with other high-tech companies to provide the most advanced and comprehensive UGV solutions to the market.
For more information, please visit our web site at www.inrobtech.com.
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.