0001178913-18-002527.txt : 20180913 0001178913-18-002527.hdr.sgml : 20180913 20180913094511 ACCESSION NUMBER: 0001178913-18-002527 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180913 FILED AS OF DATE: 20180913 DATE AS OF CHANGE: 20180913 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ituran Location & Control Ltd. CENTRAL INDEX KEY: 0001337117 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32618 FILM NUMBER: 181068113 BUSINESS ADDRESS: STREET 1: 3 HASHIKMA STREET CITY: AZOOR STATE: L3 ZIP: 58001 BUSINESS PHONE: 972-3-557-1333 MAIL ADDRESS: STREET 1: 3 HASHIKMA STREET CITY: AZOOR STATE: L3 ZIP: 58001 6-K 1 zk1822096.htm 6-K

SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
________________________
 
FORM 6-K
 
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
 
For the month of September, 2018
 
Commission File Number 001-32618
 
Ituran Location and Control Ltd.
(Exact name of Registrant as specified in its Charter)
 
________________________
 
3 Hashikma Street, Azour 58001, Israel
(Address of Registrant’s principal executive offices)
 
________________________
 
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
 
Form 20-F ☒          Form 40-F ☐
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):
 
Yes ☐          No ☒
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):
 
Yes ☐          No ☒
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ☐          No ☒
 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): ______


 
On September 13, 2018, Ituran Location and Control Ltd. issued a press release announcing the closing of the acquisition of the majority of the shares of Road Track Holding S.L. A copy of this press release is annexed hereto as Exhibit 99.1.
 
2
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
 
 
ITURAN LOCATION & CONTROL LTD.
 
   
(Registrant)
 
       
 
By:
/s/ Eyal Sheratzky 
 
   
Name: Eyal Sheratzky
 
   
Title:  Co-Chief Executive Officer
 
 
Date: September 13, 2018

3
 
EXHIBIT INDEX

Exhibit No.
Item
 
4
EX-99.1 2 exhibit_99-1.htm EXHIBIT 99.1

Exhibit 99.1
 
ITURAN CLOSES ACQUISITION OF ROAD TRACK HOLDINGS

Ituran acquires 81.3% of Road Track Holding

AZOUR, Israel – September 13, 2018 Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced that it has closed its previously announced acquisition of the majority of the shares of Road Track Holding S.L (Road Track), a telematics’ company operating primarily in the Latin American region. Starting from today, Ituran will consolidate 81.3% of Road Track’s financial results into its own.

Eyal Sheratzky, CEO of Ituran, commented “We are very pleased to close our first major acquisition which is an important part of Ituran’s strategy for global growth and expansion. Road Track, as part of Ituran, is a significant force in Latin America with deep ties to the major car manufacturers. The combined business has approximately 1.8 million subscribers with a revenue run-rate approaching $400 million. We are excited to welcome the management and employees of Road Track to Ituran and we look forward to expanding our operations and enhancing shareholder value together.”

Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended.  These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

About Ituran

Ituran is a leader in the emerging 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. Ituran is also the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries.

Ituran's subscriber base has been growing significantly since the Company's inception, standing at approximately 1.8 million subscribers using its location-based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has over 3,400 employees worldwide, with offices globally, including Israel, Brazil, Argentina, Ecuador, Colombia, Mexico and the United States.

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

Company Contact
 
International Investor Relations
Udi Mizrahi (udi_m@ituran.com)
VP Finance, Ituran
(Israel) +972 3 557 1348
 
Ehud Helft (ituran@gkir.com)
GK Investor & Public Relations
(US) +1 646 201 9246



 
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