Enertec Systems News
4 articles
growth-positive
DPW Holdings Announces That Its Gresham Worldwide Defense Business Has Been Awarded a $1.4 Million Purchase Order for Defense and Aerospace Customer, and Its Improved Capital Structure Positions Company for Backlog Expansion
DPW Holdings subsidiary, Gresham Worldwide, has received a $1.4 million order from a leading defense and aerospace customer for its subsidiary Enertec Systems. Enertec recently received a follow-up order of an additional $1.4 million related to the testing system. The customer has the potential to order over $10 million of Enertec products per year. DPWs recent restructuring of debt and improvement to its capital structure puts the company in a stronger position to execute on expected growth in backlog from this and other customers. DPW is committed to providing additional financial resources to enable Enertec and other defense subsidiaries to expand.
CustomersInvestment
DPW Holdings' Coolisys Technologies Awarded $2.9 Million Contract
DPW Holdings' Enertec Systems Awarded $4.3 Million Second-Stage Project
growth-positive
MICT Completes Sale of Enertec Systems Aerospace and Defense Subsidiary
Micronet Enertec Technologies, Inc. has completed the sale of its aerospace and defense subsidiary, Enertec Systems 2001 Ltd., to Coolisys Technologies Inc. The sale has strengthened Micronet Enertecs balance sheet by removing Enertecs debt and adding over $4.7 million in cash. With the sale, Micronet Enertec expects its gross margins to improve significantly. The company plans to focus on advancing its potential opportunities in the Mobile Resources Management (MRM) space, which has shown 121% year-over-year growth in the first quarter of 2018. Micronet Enertec intends to invest its resources into increasing sales momentum in MRM and is well positioned for both organic growth and expansion through acquisitions. The company received $4.7 million in cash at the closing of the sale.
Acquisition
