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HACKENSACK, N.J., Nov. 20, 2007 (PRIME NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset tracking and management solutions, today announced it has received a purchase order from channel partner MH Equipment Company to implement I.D. Systems' Wireless Asset Net(r) industrial vehicle management system at Deere & Company. The system will be deployed on a fleet of approximately 200 material handling vehicles at a Deere manufacturing facility in Iowa.
MH Equipment, a Hyster(r) brand lift truck dealer, is part of the dealer network of NACCO Materials Handling Group, Inc. (NMHG), one of the world's largest lift truck manufacturers and a strategic marketing partner of I.D. Systems. Deere & Company, the world's leading manufacturer of farm and forestry equipment, is a Fortune 100 company with 2006 revenues of approximately $22 billion.
"This order reflects our progress in several areas of our strategic sales and marketing plan," said Peter Fausel, I.D. Systems' executive vice president of sales, marketing and customer service. "We are broadening our customer base with a leading global industrial manufacturer, John Deere, and we are continuing to build a successful sales channel with our partner, NMHG, and its Hyster(r) brand lift truck dealers. This is the second Deere facility to adopt our Wireless Asset Net system, and we look forward to the opportunity to expand our best-practice technology further across Deere's enterprise."
Jonathan Dawley of NMHG added, "Our mission is to provide the world's best material handling solutions, and it is clear that wireless technology can play an essential role in increasing productivity and improving management of material handling operations. NMHG has deployed I.D. Systems' wireless industrial vehicle management system in its own distribution facility, and we are eager provide the technology's multiple benefits for our customers as well."
About The Wireless Asset Net(r)
The Wireless Asset Net improves productivity in manufacturing and distribution operations 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 vehicle problems in real time, scheduling maintenance according to actual vehicle usage rather than on a calendar basis, and helping 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, 2006. 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.
CONTACT: I.D. Systems, Inc. For Financial Press Ned Mavrommatis, Chief Financial Officer firstname.lastname@example.org For Trade Press Greg Smith, Vice President Marketing email@example.com 201-996-9000 Fax: 201-996-9144
Released November 20, 2007