I.D. Systems Receives Orders to Implement Wireless Industrial Vehicle Management Systems at DaimlerChrysler and Nucor Facilities
HACKENSACK, N.J., March 5 /PRNewswire-FirstCall/ -- I.D. Systems, Inc. (Nasdaq: IDSY), a leading provider of RFID-based wireless asset tracking and management solutions, today announced that it has received purchase orders for its Wireless Asset Net(R) system to be deployed at DaimlerChrysler AG and Nucor Corporation facilities in Ohio and Alabama, respectively. The orders have an aggregate value of more than $600,000.
The Wireless Asset Net system controls, tracks and manages industrial vehicles and other equipment to increase productivity, improve safety and reduce operating costs in manufacturing and distribution environments.
The system to be deployed at the DaimlerChrysler facility was ordered through NACCO Materials Handling Group, Inc. (NMHG) and its Yale(R) brand industrial truck sales organization. NMHG and its dealers distribute, install and help maintain the Wireless Asset Net system under a cooperative marketing, distribution and support agreement that I.D. Systems and NMHG entered into in 2006. A Yale(R) dealer in Ohio will install the majority of system hardware and provide warranty services for the DaimlerChrysler facility.
In addition to monitoring industrial vehicles, the Wireless Asset Net system deployed at the DaimlerChrysler facility will incorporate I.D. Systems' new OptiKan(TM) application -- an optimized, wireless, electronic "kanban" system. "Kanban" refers to a method of signaling for parts replenishment on an assembly line, popularized by automobile manufacturers to achieve "just in time" production efficiencies. The RFID-based OptiKan application is expected to increase productivity and significantly reduce labor costs by providing automated, wireless, real-time, dynamic allocation of tasks to the material handling workforce.
The Wireless Asset Net system deployment at Nucor is an initial pilot program monitoring industrial trucks. Nucor and its affiliates are manufacturers of steel products, with more than 30 operating facilities in the U.S.
"These new orders reflect several key aspects of our core business strategy," said Greg Smith, I.D. Systems' vice president of marketing and corporate communications. "We are expanding the range of our wireless solutions by developing a new application, the OptiKan system, to address the business needs of an existing customer, DaimlerChrysler. We are cultivating new sales channels by leveraging our strategic distribution agreement with NMHG, which holds a significant share of the world market for industrial trucks through its Hyster(R) and Yale(R) brand dealer networks. And, with Nucor, we are acquiring a new customer with a strong emphasis on worker safety and lean operations, which presents us with an excellent opportunity to expand our best-practice technology across another corporate enterprise."
Jonathan Dawley of NMHG added, "The mission of our Yale(R) and Hyster(R) brands is to provide the world's best material handling solutions, and our customers increasingly appreciate that wireless technology has a vital role to play in delivering those best-practice solutions. I.D. Systems' wireless vehicle management system has proven bottom line results that bring significant value to customers' operations."
About The Wireless Asset Net(R)
The Wireless Asset Net system improves productivity in manufacturing and distribution environments by establishing accountability for use of equipment, ensuring equipment is in the proper place at the right time, streamlining work flow through automated messaging, and providing management with unique metrics on -- and controls over -- equipment utilization. The system also improves workplace safety and security by restricting vehicle access to trained, authorized operators and providing electronic vehicle inspection checklists. In addition, the system reduces maintenance expenses by automatically uploading vehicle data, reporting problems identified on checklists in real time, scheduling maintenance according to actual vehicle usage rather than on a calendar basis, and helping management determine the optimal economic time to replace equipment.
About I.D. Systems
I.D. Systems, Inc. is a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets. These assets include industrial vehicles, such as forklifts and airport ground support equipment, and the people who operate them. The company's patented Wireless Asset Net system, which utilizes radio frequency identification, or RFID, technology, addresses the needs of organizations to control track, monitor and analyze their assets. For more information about I.D. Systems, visit www.id-systems.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and that are subject to risk and uncertainties, including, but not limited to, future economic and business conditions, the loss of any of the Company's key customers or reduction in the purchase of its products by any such customers, the failure of the market for the Company's products to continue to develop, the inability to protect the Company's intellectual property, the inability to manage the Company's growth, the effects of competition from a wide variety of local, regional, national and other providers of wireless solutions and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2005. These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company. The Company assumes no obligation to update the information contained in this press release.
SOURCE I.D. Systems, Inc.
Released March 5, 2007