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NEWPORT BEACH, CA, July 26, 2018 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW), a diversified holding company, announced Enertec Corporation, the Israel-based defense solutions group of DPW subsidiary Coolisys Technologies, Inc., was awarded a $4.3 million second-stage contract award from an Israeli defense and aerospace contractor to supply computer-based command and control missile defense systems.
Zvi Avni, CEO of Enertec, said, “This important win is the result of a multi-year development effort, reinforcing Enertec’s strategic focus on missile defense systems and validating our ability to deliver complex command and control systems. We believe we are well-positioned to pursue additional orders for similar systems from existing and new customers.”
Coolisys’ President and CEO Amos Kohn stated, “This project illustrates Enertec’s growing reputation as an innovative provider of state-of-the-art missile defense and aerospace systems. Coolisys’ acquisition of Enertec in May 2018, as part of our strategy of growth through synergistic acquisitions, is enabling us to increase our revenues and expand our customer base. This win will help to further solidify Coolisys’ position as an advanced aerospace and defense technology supplier for major strategic defense programs.”
In 2015, Enertec developed and manufactured a deployable mobile command & control center for medium range ground-to-air missile defense systems for the same customer. The company expects to deliver a significant portion of the new second-stage project during 2018.
ABOUT ENERTEC SYSTEMS
Enertec Systems 2001, Ltd is a wholly owned subsidiary of Coolisys Technologies, Inc., part of DPW Holdings’ diversified portfolio. Enertec is Israel’s largest private developer and manufacturer of specialized electronic systems for the aerospace and defense markets. The company is recognized for providing multi-purpose turnkey systems designed to serve in harsh environments and battlefield conditions. Applications and products include mission computers, missiles launchers, command and control systems, automatic testing systems and power supply systems. Products and solutions are implemented in land and naval combat electronic systems, command and control centers, simulators and missiles systems. Enertec also provides precise calibrated solutions for medical OEMs. Coolisys Technologies acquired Enertec in May 2018. For more information please see www.enertec.co.il and www.coolisys.com.
ABOUT DPW HOLDINGS, INC.
DPW Holdings, Inc., (www.DPWHoldings.com), is a diversified holding company pursuing a growth strategy of acquiring undervalued assets and disruptive technologies with a global impact. The Company invests in diverse industries within the commercial, defense/aerospace, industrial, communication, medical, crypto-mining, hospitality, textile, and corporate investment/lending sectors. DPW has evolved and grown from being a leader in advanced power products. Through its subsidiaries, the company continues to be a leader and supplier of innovative technologies, advanced design and development services, and state-of-the-art power products and solutions. DPW Holdings, Inc.’s headquarters is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
The foregoing release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the anticipated shipment and revenue recognition of customer orders. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.
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