Ituran signs new OEM agreement with Renault in Latin America

Ituran Location and Control (ITRN) announced that it has signed an initial three-year service agreement with a new major European OEM, Renault (RNLSY). The contract covers multiple countries in the Latin American region and there is strong potential for expansion to additional markets globally as well as extended service periods. Eyal Sheratzky, co-CEO of Ituran commented, “We are thrilled to announce this new agreement with Renault, bringing Ituran’s service and tracking solutions to their Latin American customers. We are excited with the long-term potential of this agreement which allows us to more broadly sell our service offerings, strengthening our presence in Latin America. It also brings us new customers of another leading global OEM, potentially accelerating our long-term net subscriber growth.”