Omniq selected for an approximate $50 million project to modernize supply chain

The project is expected to start immediately and continue through the end of 2024.

OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or the “Company”), a provider of Artificial Intelligence (AI)-based solutions, announced today that it has been awarded a project expected to exceed $50 million from one of the largest food and drug chains in the US.

The project aims to modernize and enlarge the logistics system of this multi-billion dollar long-standing customer. The order is for Android-based handheld devices (IoT), used in managing the customer's total supply chain level operations within its warehouses, distribution centers, and up to the point of delivery to their end customer. This application ensures proper timing, routing, and proof of delivery ensuring customer success. The order includes specialized services and support, under omniQ’s responsibility.

Shai Lustgarten, CEO of omniQ, stated, “Our team has diligently worked over the last six months on securing the $50m project, focusing on design and seamless integration within the customer’s logistics system. Our efforts have culminated in success, and we take pride in once again receiving a strong vote of confidence from one of the largest and most prestigious corporations worldwide. The unwavering dedication of our team to meet the ever-evolving demands of our long-standing customers has played a pivotal role in nurturing enduring partnerships. This project, coupled with our robust pipeline and backlog, will undoubtingly have a positive impact on the Company’s performance throughout 2023 and beyond.”