Troubled Russian Navigation Technologies OJSC placed into administration
MOSCOW, May 7 (RAPSI) - The Moscow Commercial Court ruled on Thursday that Russian Navigation Technologies OJSC which develops GPS/GLONASS-based systems for transportation monitoring and management be placed into administration.
The company’s creditors have filed claims that total 136.3 million rubles ($2.7 million).
Russian Navigation Technologies OJSC was put under the supervision last July.
Russian Navigation Technologies is an innovative hi-tech company involved in satellite based vehicle tracking. The company’s services are based on an in-house hardware and software platform developed under the brand AutoTracker. The platform carries out the complex real-time monitoring of vehicles and other movable and immovable objects using the GLONASS/GPS satellite navigation systems, Inmarsat satellite connection system and GSM data transfer.