LAS VEGAS, April 26, 2006 (PRIMEZONE) -- InRob Ltd. ("InRob") (OTCBB:IRBL), a leader in the development and production of advanced wireless control systems and integrated solutions for unmanned ground vehicles (UGV), today announced that it expects a worldwide exclusive marketing agreement to be signed in the near future with Israel Military Industries, (IMI).
The 6-year exclusivity will encompass 3 UGV's: the Hornet MK-5, the FFR-1, and the TSR-700 whereby IMI and InRob will jointly market these products worldwide which will be sold under the InRob Tech brand name. All terms between the parties have been agreed upon and await a final round of signatures.
Mr. Joseph, CEO of InRob Tech. stated, "We expect the agreement to be signed in the very near future, after a very successful round of negotiations." Mr. Joseph further stated, "Based on the strong alliance forged between InRob and IMI we feel confident that this agreement is the first of a broader relationship between the two companies that will result in the development of new state of the art products and will allow InRob new opportunities in the marketplace and the ability to venture with possibly world renown companies."
About IMI
Founded in 1933. With over 5,000 employees IMI has been outstanding in the commercial sector -- from satellite rocket launchers to advanced pay phones, utilizing its leading edge technologies and marketing network. Today, IMI is focusing on its core business -- the defense systems market.
IMI is a leading defense industry, offering comprehensive development, design, production and testing facilities. Primary product lines include weapon systems and ammunition for ground forces; tank and artillery ammunition; anti-tank missiles, and artillery TCS -- Trajectory Corrected System for Artillery Rocket Systems as well as small arms weapons and ammunition, tank guns and upgrading programs. Also offered a full spectrum of aircraft systems: auxiliary mission equipment; fuel tanks and pylons; chaff and flare systems; air launched decoys; stand off weapon systems and aerial ammunition.
With over 60 percent of its production destined for world markets, IMI is a recognized supplier to armed forces, law enforcement and security agencies and defense manufacturers on five continents.
IMI is the major supplier to the Israel Defense Forces.
For more information on IMI, please visit its web at http://www.imi-israel.com
About InRob Tech
InRob Tech is an Israeli-based high-tech company specializing in the planning, manufacturing and service support of advanced wireless and remote control systems, operating all types of robots and other vehicles. The Company is Israel's leader in its field, and supports the IDF (Israeli Defense Forces), Israeli police, and other military and civilian companies dealing with security. Founded in 1988, the Company works closely with other high-tech companies to provide the most advanced and comprehensive UGV solutions to the market.
For more information, please visit our web site at http://www.inrobtech.com.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties.
There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.