BOS Appoints Vice President for Robotics Sales in North America

Rhea-AI Summary

BOS Better Online Solutions Ltd. (NASDAQ: BOSC) has appointed Sam Michael as Vice President for Robotics Sales in North America, leveraging his 30 years of experience in the U.S. plastic industry. The company aims to strengthen its customer support with a U.S.-based technician and increase its market share. CEO Eyal Cohen highlighted that these strategic changes are positioned to enhance revenue growth in 2021 by focusing on the key market of North America.

Positive

• Appointment of Sam Michael as VP for Robotics Sales expected to enhance market share in North America.
• Strengthening of customer support with a U.S.-based technician may lead to improved customer relationships.

Negative

• Dependence on a few major customers raises concerns about revenue stability.
• Risks related to maintaining gross profit margins in a competitive industry.

BOS' Robotics Division to Focus on the North American Market

RISHON LEZION, Israel, Jan. 06, 2021 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC), announced today that it has appointed Mr. Sam Michael as Vice President for Robotics Sales in North America.

Eyal Cohen, BOS' CEO, stated: "Sam has 30 years of experience in sales to the U.S. plastic industry, which is a key market for BOS' Robotics division. Sam has previously served as Sales Director at Milacron and Husky, which are global manufacturers of engineered systems for plastic manufacturers. BOS will also strengthen its customer support by providing a U.S.-based technician ready to serve U.S. customers. These changes put us in a good position to increase our market share in the U.S. and support BOS’ revenue growth in 2021.”

About BOS Better Online Solutions Ltd.

BOS used a shorter version: BOS is a global provider of custom-made intelligent robots and an integrator of off-the-shelf automation systems for industrial and logistics processes. BOS also provides supply chain services, mainly for the aerospace and defense industries worldwide.

For more information, please visit our websites:

Corporate - www.boscom.com | Robotics– www.imdecol.com

RFID – www.dimex.co.il | Supply Chain – www.odem.co.il

Contact:

Eyal Cohen, CEO

+972-542525925 | eyalc@boscom.com

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, the impact of the COVID-19 virus 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.

FAQ

Who is the new Vice President for Robotics Sales at BOSC?

BOSC has appointed Sam Michael as the Vice President for Robotics Sales in North America.

What experience does Sam Michael bring to BOSC?

Sam Michael has 30 years of experience in sales to the U.S. plastic industry and has served as Sales Director at Milacron and Husky.

How does BOSC plan to strengthen its customer support?

BOSC plans to provide a U.S.-based technician to better serve its North American customers.

What are BOSC's goals for the North American market in 2021?

BOSC aims to increase its market share in North America and support revenue growth through strategic appointments and enhanced customer support.