ITURAN AFFIRMS NO DISRUPTION TO ITS CONTINUED BUSINESS OPERATION IN ISRAEL AND ELSEWHERE

Published

AZOUR, Israel, Oct. 16, 2023 /PRNewswire/ -- Ituran Location and Control Ltd. (Nasdaq: ITRN) today addressed the status of the Company's ongoing activity in Israel, against the background of the terrorist attack by Hamas on October 7 against unarmed civilians in the south of the country and the subsequent declaration of war by the Israeli government.

Ituran logo

Ituran's management affirms that the Company has not seen any impact to its ongoing operations in Israel or elsewhere, and continues to make any adjustments to ensure continuity, as maybe needed. Furthermore, its headquarters are in the center of the country, just outside of Tel Aviv and not near any borders.

Eyal Sheratzky, CEO of Ituran, "The Ituran family is absolutely horrified by the barbaric attacks against ordinary citizens - which directly led to the declaration of war by Israel. All our employees have been affected in a very personal way, and the small size of our country is such that everyone knows a family that has either had a son or daughter murdered or kidnapped by Hamas. We pray for the victims as well as their families, friends and loved ones. I stress that we are resilient people, and unfortunately have much experience in working and overcoming challenging times."

"At the same time, we wish to reaffirm to our employees, partners and shareholders that our operations have not been impacted in Israel, or anywhere else in the world, despite our personal grieving. Naturally, the safety of our employees remains our highest priority. While hostilities have not taken place near our headquarters and it remains a safe environment, the vast majority of our employees are able to work remotely from their homes. Finally, I would like to thank all those that have reached out to express their support and best wishes. "

About Ituran

Ituran is a leader in the mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran's subscriber base has been growing significantly since the Company's inception to over 2 million subscribers using its location-based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 3,000 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.

For more information, please visit Ituran's website, at: www.ituran.com

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Company Contact

Udi Mizrahi

udi_m@ituran.com

Deputy CEO and VP Finance, Ituran

(Israel) +972 3 557 1348

International Investor Relations

Ehud Helft

ituran@ekgir.com

EK Global Investor Relations

(US) +1 212 378 8040 

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SOURCE Ituran Location and Control Ltd.

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