Ultrack
Announces Two New Contracts with High-End Car Rental Companies
While in Final Phase of Revolutionary ELD Device
Prelaunch
Concord,
Ontario,
Canada -- February 11, 2021 -- InvestorsHub NewsWire
-- Ultrack Systems Inc. (OTC
PINK:
MJLB), a total fleet-management GPS tracking and monitoring
solution provider, is pleased to announce that the Company has
secured two new contracts for Ultrack's products and services to be
used in two fleets of high-end car rental companies. Additionally,
the Company is now in the final phase before the official
launch of Ultrack's new ELD product and substantial hurdles have
been cleared successfully.
In early February, the Company
inked two new deals for Ultrack's products and services to be used
by two high-end car rental companies. These car rental companies
represent brand new clients for Ultrack and immediately helps the
Company to achieve deeper penetration into the car rental/leasing
niche, which happens to be vast. The global car rental market size
was valued at $92.92 billion in 2019 and is projected to
reach $214.04 billion by 2027, registering a CAGR of 10.7% from
2020 to 2027. North America accounted for the highest share in the
global car rental market in 2019, in terms of revenue, and LAMEA is
anticipated to exhibit remarkable growth rate during the
forecast period. (from https://www.alliedmarketresearch.com/car-rental-market)
Most significantly, Ultrack is
pleased with the progress in this "final lap" of the Company's
new ELD before the official North American launch. The ELD is
rapidly becoming a required component across international
jurisdictions as countries like the USA and Canada have begun to
mandate that commercial fleets be outfitted with the devices to
electronically log driving hours, engine data and other compliance
specifications. The ELD market is booming accordingly and the
Company is strategically positioned to take advantage of this
rapidly expanding market with top-of-the-line components and the
industry's most robust software. Any US carrier
entering
Canada will need to
be using certified hardware and the hardware they are currently
using will need to be certified by the 3rd party certification
company for Canadian roadways. Which will put Ultrack in a very
good position for US market sales.
Ultrack CEO Michael Marsbergen
enthusiastically commented: "Ultrack's new ELD product will be
submitted at the end of February
for
the approval process
by regulators and once approved, our new ELD product will
be an industry disruptor. Our device is faster, longer ranged, has
more robust infrastructure, more security, and ultimately provides
far more comprehensive real-time and logged data to the end-user
than anything currently available. Reaching the finish
line on our new ELD device will catapult Ultrack into a new tier of
revenue and industry recognition. I feel like the past 14 years of
business is leading up to this point: all of our technology that
we've built upon, all of the strong industry
relationships we've grown, all of our strategic partnerships with
multi-billion-dollar
corporations like
Telus ($TU)
and Iridium Communications ($IRDM).
I believe that Ultrack's new ELD is going to become the new
trucking industry standard at some point in
2021-2022."
The Company is currently in
talks with two entities (one company and one government) that
represent massive fleets of vehicles keenly interested in Ultrack's
new ELD product. These companies have provided a positive
verbal
commitment to come online with Ultrack's new ELD once the ELD
approval process is completed.
The
Company invites current and future shareholders to check back
regularly at our website http://ultrack.ca, Facebook page www.facebook.com/UltrackSolutions and Twitter
page https://twitter.com/UltrackI.
About MJLB:
Located in Concord,
Ontario,
Ultrack Systems Inc., (www.ultrack.ca) is a publicly traded company
listed on the OTCMARKETS under the MJLB trading symbol. Ultrack
Systems Inc., is a provider of GPS tracking solutions. We develop,
implement,
and distribute electronic monitoring and tracking systems for
companies in leasing, transportation, construction, disposal, and
many other service driven industries. Our platform includes live
tracking, reports, and alerts on a web-based
platform. Our
mission is to provide the best fleet tracking, reporting systems
and our commitment to service. The Company plans to launch a new
ELD product in 2021 in partnership with major corporations that
will take the trucking industry by
storm.
Safe Harbor
Statement: This Press Release may contain
certain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The Company has
tried, whenever possible, to identify these forward-looking
statements using words such as "anticipates," "believes,"
"estimates," "expects," "plans," "intends," "potential" and similar
expressions. These statements reflect the Company's current beliefs
and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and
unknown risks, uncertainties and other factors which could cause
the Company's actual results, performance or achievements to differ
materially from those expressed in or implied by such statements.
The Company undertakes no obligation to update or advise in the
event of any change, addition or alteration to the information
catered in this Press Release including such forward-looking
statements.
Contact: Ultrack Systems,
Inc
Phone:
800-893-9506
Email: info@ultrack.ca
Website: http://ultrack.ca
Facebook: www.facebook.com/UltrackSolutions
Twitter: https://twitter.com/UltrackI