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WOODCLIFF LAKE, N.J., May 10, 2012 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, today announced that BASF (FRA:BAS), the world's leading chemical company, is expanding its deployment of I.D. Systems' VeriWise™ Track and Trace systems for managing fleets of trailers, totes, and railcars.
VeriWise Track and Trace provides real-time data to improve the efficiency and security of transportation fleets. It is designed for quick, flexible installation on a wide range of cargo-carrying assets, with patented power management technology to provide exceptionally long battery life and years of maintenance-free operation. Track and Trace is also unique in its intrinsic safety, with Underwriter Laboratories' highest certification for use in proximity to hazardous materials.
BASF (www.basf.us) manufactures a broad portfolio of chemicals, plastics, petroleum, crop protection products, and other materials that contribute to resource conservation, healthy food and nutrition, and an enhanced quality of life. Based in Ludwigshafen, Germany, with North American headquarters in Florham Park, New Jersey, BASF is ranked 71st on the "Global 100" list of the world's largest companies, with 2011 revenues of more than €73 billion.
"The safe and secure transportation and storage of our products is part of BASF's commitment to social responsibility and environmental protection," said Steven P. Williams, BASF Logistics Technology Manager. "We are deploying VeriWise on a diverse range of transportation assets because the system improves our efficiency reliably and cost-effectively, is easy to install and maintain, and is intrinsically safe for our sensitive materials.
"We integrate real-time asset location data from VeriWise with other information systems to eliminate blind spots in the supply chain, schedule shipment deliveries more accurately, and meet or exceed government safety and security standards across the United States, Canada, and Mexico."
Darryl Miller, Chief Operating Officer of I.D. Systems, said, "We are gratified to expand our relationship with BASF. We remain committed to helping BASF optimize the efficiency of its North American supply chain through our affordable, easy-to-deploy asset tracking systems. At the same time, we are proud of the key role our technology plays in helping BASF meet regulatory requirements for the safe transport of its products."
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: For Financial Press Ned Mavrommatis, CFO email@example.com 201.996.9000 For Trade Press Todd Felker, EVP Marketing firstname.lastname@example.org 972.398.7303Source: I.D. Systems, Inc.
Released May 10, 2012