BOS’ Supply Chain Division Initiates Sales in Greece
BOS Better Online Solutions (BOSC) announced that its Supply Chain Division has started sales to a customer in Greece. The division specializes in the franchised distribution of electronic components, primarily for Israel's defense industry. President Avidan Zelicovski highlighted increasing demand from Europe, attributing this to rising defense budgets in several European countries. The company is poised to capitalize on this opportunity and expand its business in the European market.
- Initiation of sales in Greece marks a new market entry.
- Increasing demand for products and services from Europe.
- Potential growth tied to increased European defense budgets.
- Dependence on defense budgets which can be unstable.
RISHON LE ZION, Israel, July 10, 2024 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) announced today that its Supply Chain Division has initiated sales to a customer in Greece.
Avidan Zelicovski, BOS' President, stated: "BOS' Supply Chain division provides franchised distribution of electronic components, mainly for the Israeli defense industry. Recently, we have experienced a growing demand for our products and services from Europe. I believe this is related to the increase in the defense budgets of several European countries. We are ready to realize this opportunity and grow our business in Europe."
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.
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