- Total project value of $3.5 million exceeds expected $3.0 million announced in August 2020
- The orders are for the supply of mobile data collection devices equipped with advanced communication capabilities
- Customer operates over 100 warehouses in the U.S. with over 40 million sq. ft. of warehousing space
SALT LAKE CITY, Sept. 03, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that it has received additional orders with a total value of approximately $1.3 million from a leading global transport and logistics company. Initial orders worth approximately $2.2 million from this customer for the supply of mobile data collection devices equipped with advanced communication capabilities were announced on August 24, 2020, bringing the total to approximately $3.5 million.
The customer is an industry-leading third-party logistics (3PL) company that provides contract distribution services for many different industries and companies throughout the U.S. OMNIQ will supply scan guns and wearable computers to facilitate order fulfillment and general warehouse management functions. Delivery of the devices is expected to be completed this year.
Shai Lustgarten, President and CEO of OMNIQ, stated, “In August, we announced the receipt of $2.2M worth of orders from a distinguished transport and logistics company and that we expected additional orders of approximately $800,000. We are very pleased to quickly fulfill and exceed this expectation with $1.3 million in additional orders. These increased follow-up orders represent another strong vote of confidence from a multibillion dollar company that has chosen OMNIQ for the supply of its critical operational needs. Following our recent $5.5 million order from a leading supermarket chain in June and the $4.0 million order from a leading healthcare and pharmaceuticals supplier in July, these new orders reaffirm our solid position as a supplier of choice for sophisticated computerized equipment to leading Fortune 500 companies.”
About OMNIQ Corp.
OMNIQ Corp. (OTCQB: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023.
Information about Forward-Looking Statements
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