Microtrak Inc., which provides vehicle location and information devices for after market installation, closed a private placement financing for gross proceeds of $500,000, the company announced. The financing will be used for working capital and to fill orders of Microtrak GPS units for smaller distributors.

Separately, Microtrak announced it will cut the price of its Fleetguard vehicle location system for companies transporting hazardous materials under its Anti-Terrorism Program. The Fleetguard system allows dispatchers to keep track of vehicles via GPS signals and includes the Geo-Fencing application that alerts dispatchers if the vehicle moves outside a prescribed area. Microtrak did not disclose its discounted prices for the system.