BOS’ Intelligent Robotics Division Installs Robotic Palletizing Cells

Rhea-AI Summary

BOS Better Online Solutions' Intelligent Robotics division has successfully installed robotic palletizing cells for industrial and retail customers in Israel. The installations, valued at $140,000, automate the process of stacking packages onto pallets, offering significant time and labor cost savings. Roee Ivgy, Head of the Intelligent Robotics division, expressed optimism about the potential of robotic palletizing in meeting the needs of high-volume production facilities and logistics centers. This development showcases BOS' commitment to providing innovative automation solutions for diverse sectors, potentially opening up new market opportunities and revenue streams for the company.

Positive

• Successfully installed robotic palletizing cells for industrial and retail customers
• Generated $140,000 in revenue from the installations
• Expanded into the growing market of automated palletizing solutions

Negative

• None.

RISHON LE ZION, Israel, July 25, 2024 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) Intelligent Robotics division has successfully installed robotic palletizing cells for industrial and retail customers in Israel.

Roee Ivgy, Head of the Intelligent Robotics division, stated: "Palletizing is the process of orderly stacking packages onto a pallet. Robotic palletizing automates the process, saving time and costs of human labor. We have successfully completed two installations for customers in both the industrial and retail sectors, for a total consideration of $140,000. We look forward to realizing the potential of robotic palletizing, catering to the evolving needs of high-volume production facilities and logistics centers."

About BOS

BOS leverages cutting-edge technologies to optimize supply chain operations across three key divisions. The Intelligent Robotics division streamlines industrial and logistics inventory processes. The RFID division efficiently marks and tracks inventory and the Supply Chain division effectively manages inventory supply.

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 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 effect of the war against the Hamas and other terrorist organizations, the continued availability of financing for working capital purposes and to refinance outstanding indebtedness; and additional risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the US 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

What new technology has BOS (BOSC) implemented in July 2024?

In July 2024, BOS (BOSC) implemented robotic palletizing cells for industrial and retail customers in Israel through its Intelligent Robotics division.

How much revenue did BOS (BOSC) generate from the robotic palletizing cell installations?

BOS (BOSC) generated $140,000 in revenue from the installation of robotic palletizing cells for industrial and retail customers in Israel.

What are the benefits of BOS (BOSC)'s robotic palletizing cells?

BOS (BOSC)'s robotic palletizing cells automate the process of stacking packages onto pallets, saving time and reducing human labor costs for high-volume production facilities and logistics centers.

Who is the head of BOS (BOSC)'s Intelligent Robotics division?

Roee Ivgy is the head of BOS (BOSC)'s Intelligent Robotics division, as mentioned in the July 2024 press release.