B.O.S Appoints Naor Israel as General Manager of Plant Operations for its Intelligent Robotics and RFID Division
Company Renews Focus on Improving Efficiencies and Strengthening Production Capacity
RISHON LE ZION, Israel, September 12, 2019 -- B.O.S Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC), a global provider of intelligent systems and services for production and logistics, announced today that it has appointed Naor Israel as the General Manager of Plant Operations for its Intelligent Robotics and RFID Division, which includes the recently acquired operations of Imdecol.
Mr. Israel brings extensive experience as a senior level engineering professional with multifaceted technical knowledge and a 15-year track record of innovation and success. His background includes demonstrated success in driving innovation and strategic product design, development and high-volume production within the additive manufacturing industry. Most recently, he has served as a Director of R&D and Engineering at BigRep GmbH, a Berlin-based firm that creates large scale 3D printers for industrial applications. During his tenure, he directed all aspects of technology development and in particular spearheaded the development of three unique products. In 2018, Mr. Israel and his team won the German Innovation Award in Machine and Engineering. Previously, he served in the R&D group of Stratasys, Inc. (formerly Objet) and before that, in the R&D group of Elbit Systems Ltd. He holds a Master’s degree in Systems Engineering from the Technion – Israel Institute of Technology, Haifa and a BSc degree in Mechanical Engineering from Ben-Gurion University, Beer-Sheva.
Eyal Cohen, BOS' Co-CEO, stated: "With our acquisition of the robotics business from Imdecol, we significantly expanded our capabilities and solutions for the industrial and logistics market segments, by adding tailor-made robotics offerings. In addition to continuing to expand our technological capabilities, we are also focused on improving our production efficiency and capacity. We are very pleased to welcome Naor Israel, who brings a great deal of experience and proven success in innovating and transforming the engineering and production operations of other high technology companies.”
The Company also announced that Ayelet Hayak, Imdecol’s CEO prior to the acquisition, will step down by October this year.
“We’d like to thank Ayelet Hayak for her efforts and valuable contribution during the transition and integration period and we wish her well in her future endeavors,” Mr. Cohen concluded.
B.O.S is a global provider of intelligent systems and services for inventory production and logistics. BOS’ Robotics and RFID Division offers intelligent robotic systems for industrial and logistics processes, as well as warehouse and retail store management by RFID. BOS' Supply Chain division provides electronic components mainly for the aerospace, defense and other industries worldwide including the consolidation of components from a vast number of suppliers, long term scheduling and kitting. For more information, please visit: www.boscorporate.com or contact:
IMS Investor Relations
(203) 972-9200 firstname.lastname@example.org
Eyal Cohen, Co-CEO & CFO
Safe Harbor Regarding Forward-Looking Statements
The forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or a few major customers, the uncertainty of BOS being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS, the effect of exchange rate fluctuations, general worldwide economic conditions and continued availability of financing for working capital purposes and to refinance outstanding indebtedness; risks associated with completing and successfully integrating an acquisition with BOS’s existing business; and additional risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the U.S. Securities and Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.