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WOODCLIFF LAKE, N.J., July 11, 2012 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, has received a purchase order from Detroit Diesel Corporation to deploy I.D. Systems' PowerFleet™ Vehicle Management System on a fleet of industrial trucks at a North American manufacturing plant.
Detroit Diesel is a leading manufacturer of heavy-duty diesel engines and axles for the commercial transportation industry, with a network of more than 800 Detroit™ brand sales and service locations throughout North America. Detroit Diesel is a subsidiary of Daimler AG (stock exchange symbol: DAI), one of the world's leading automotive companies.
Wireless Vehicle Management Systems (VMS) help improve supply chain productivity by establishing accountability for the use of industrial trucks, such as forklifts, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on vehicle utilization. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting equipment problems electronically, scheduling maintenance according to actual vehicle usage rather than by calendar or manual data entry, and helping determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts.
"We are pleased to add Detroit Diesel as a customer, enhancing our strong market share in the automotive vertical, where we also count Mercedes, Ford, Toyota, Audi, Continental Tire, and other automotive industry leaders among our customers," said Jeffrey Jagid, I.D. Systems' chairman and CEO. "We look forward to helping Detroit Diesel utilize our PowerFleet VMS to reduce operational costs, increase productivity, and improve material handling safety."
About I.D. Systems
Based in Woodcliff Lake, New Jersey, with subsidiaries in Germany and the United Kingdom, I.D. Systems is a leading provider of solutions for securing, controlling, tracking, and managing high-value enterprise assets, including vehicles, powered equipment, trailers, containers, baggage, and cargo. The Company's patented technologies address the needs of organizations to monitor and analyze their assets to improve safety, security, efficiency, and productivity. For more information, visit www.id-systems.com.
"Safe Harbor" statement:
This press release contains forward looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to I.D. Systems' beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems' control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include: statements regarding prospects for additional customers; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; and plans, strategies and objectives of management for future operations, including integration plans in connection with acquisitions. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems' products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems' intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems' filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2011. These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, I.D. Systems. I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
CONTACT: USA Financial Media Ned Mavrommatis CFO email@example.com +1 201.996.9000 USA Trade Media Greg Smith VP Corp. Comm. firstname.lastname@example.org +1 201.996.9000 Europe Alexander Glasmacher Managing Director EMEA email@example.com +49 (0)211.310.54.54.61Source: I.D. Systems, Inc.
Released July 11, 2012