Pointer Telocation Systems Ltd. (Nasdaq:PNTR; TASE:PNTR) roadside services subsidiary Shagrir Systems Ltd. has been chosen by Romania's SC BCR Asigurari Vienna Insurance Group SA to exclusively provide roadside services in the country.
Shagrir's Romanian unit, SC Pointer SRL will offer BCR Asigurari customers a choice of three service packages: platinum, gold, and silver. The company will offer roadside assistance, towing, and car replacement services.
BCR Asigurari, a subsidiary of Austria's Vienna Insurance Group AG (ATX:VIG) since 2008, has been operating in Romania since 2001.
Shagrir CEO Micha Kraus said, "Partnering with BCR, a Vienna Group Company, enables us to introduce our know-how and accumulated experience in Road Assistance services to this expanding market. Both companies are committed to providing a reliable service to our joint customers, offering policyholders geographically widespread car insurance coverage and peace of mind when traveling in Romania and across Europe."
Pointer's share closed at $7.39 on Nasdaq yesterday, giving a market cap of $35 million. The share price rose 1.3% by early afternoon on the TASE today to NIS 28.41.
Published by Globes [online], Israel business news - www.globes-online.com - on July 28, 2010
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