Maris-Tech Enters Into an Agreement with a Major Distributor in Turkey, Continuing the Company's Trend of Global Expansion
May 24 2023 - 8:00AM
Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the “Company”), a
B2B provider of edge AI accelerated video solutions for edge
platforms, today announced that it has entered into an
agreement with IMCA Elektronik in Turkey ("IMCA"), a major
distributor of products for defense, aviation, transportation,
industrial and consumer electronics applications in Turkey.
Pursuant to the agreement, Maris-Tech appointed IMCA as the
Company's exclusive distributor in Turkey, and as such IMCA will
promote and sell Maris-Tech products. Turkey has diversified,
advanced and growing defense, aerospace and transportation
industries, setting a $6 billion export target for 2023 in diverse
areas after hitting a record $4.4 billion in arms exports in
2022*.
"We are honored to have IMCA as our exclusive distributor in
Turkey, promoting the sale of Maris-Tech's cutting edge and unique
products in new territory with one of the most advanced defense
industries in the world. Cooperation with IMCA, an established and
experienced distributor, enables us to continue our international
expansion with entry into Turkey’s large and important market,"
said Israel Bar, CEO of Maris Tech.
"IMCA welcomes this opportunity to promote and distribute
Maris-Tech's innovative technology, facilitating the sale of its
products in Turkey. We look forward to a mutually beneficial,
extended and productive working relationship," said Cemal ALPAY,
Managing Director, IMCA.
*Sources: CNBC, Daily Sabah
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of video streaming and AI
technology, founded by veterans of the Israel technology sector
with extensive electrical engineering and imaging experience. Our
products are designed to meet the growing demands of commercial and
tactical applications, delivering high-performance, compact, low
power and low latency solutions to companies worldwide, including
leading electro-optical payload, RF datalink and unmanned platform
manufacturers as well as defense, HLS, and communication companies.
For more information, visit https://www.maris-tech.com.
Forward-Looking Statement Disclaimer
This press 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, that are intended to be covered by the "safe harbor"
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as "believe," "expect"," "may",
"should," "could," "seek, " "intend, " "plan, " "goal, " "estimate,
" "anticipate" or other comparable terms. For example, we are using
forward-looking statements when we are discussing future sales of
our products in Turkey and international expansion. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of our
control. Our actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include, among others, the
following: our ability to successfully market our products and
services, including in the United States; the acceptance of our
products and services by customers; our continued ability to pay
operating costs and ability to meet demand for our products and
services; the amount and nature of competition from other security
and telecom products and services; the effects of changes in the
cybersecurity and telecom markets; our ability to successfully
develop new products and services; our success establishing and
maintaining collaborative, strategic alliance agreements, licensing
and supplier arrangements; our ability to comply with applicable
regulations; and the other risks and uncertainties described in the
Annual Report on Form 20-F for the year ended December 31, 2022,
filed with the SEC on March 6, 2023, and our other filings with the
SEC. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Investor Relations:
Nir Bussy, CFOTel: +972-72-2424022
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