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WOODCLIFF LAKE, N.J., July 30, 2019 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things (IoT) technology, is helping American Intermodal Management, LLC (AIM), an industry leader in chassis provisioning and asset management across the U.S., extend the value proposition of the chassis beyond a piece of equipment to integrate itself into its clients’ supply chains. With the most recent order, AIM will now have its entire 11,000-unit fleet powered by PowerFleet.
Working with AIM since 2016, PowerFleet® for Logistics by I.D. Systems continues to collaborate on technology to streamline core business intelligence and tailor asset management solutions that work to improve operational efficiency, increase agility and achieve a greater overall business value. PowerFleet’s chassis tracking and sensor solutions help AIM’s lease and rental customers maximize chassis utilization – offering greater visibility and comprehensive, reliable data. Targeted benefits include reduced transit cycle times, improved operations, enhanced productivity and lower operational cost.
“Our objective has always been to leverage transformational technologies with the goal of improving operations and increasing efficiencies across our business,” said Than Seeds, CEO, AIM. “That’s why we look forward to continuing to partner with PowerFleet in order to capitalize on their innovative technology and produce a greater economy for all our stakeholders.”
Norm Thomas, General Manager of PowerFleet for Logistics, explained: “We appreciate our continued partnership with AIM and their commitment to our product roadmap. We make it our business to give our partners a competitive edge that they ultimately experience as streamlined operations, increased accountability and money saved. That’s why we’re constantly innovating, integrating and customizing our technologies for our customers.”
About American Intermodal Management (AIM)
Headquartered in Scottsdale, Arizona, American Intermodal Management, LLC (AIM) was formed in 2016 in response to strong industry demand desiring alternatives for chassis provisioning, and asset management across the U.S. AIM owns and leases technology enhanced marine chassis to customers who transport marine containers between ports, rail ramps and distribution centers in North America. The AIM business model combines integrity, proactive-disciplined management processes, high quality assets, innovative technology application, and a passion for excellence to achieve maximum value creation. Currently, AIM has over 11,000 chassis deployed at the ports of Los Angeles, Long Beach, Seattle, Houston, Oakland and is continually expanding its footprint.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, Germany and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial vehicles, rental cars, trailers, containers, and cargo. The company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit www.id-systems.com, the content of which does not form a part of this press release.
Cautionary Note Regarding Forward-Looking Statements
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; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. 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, 2018. 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. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether a result of new information, future events, or otherwise.
I.D. Systems Company Contact:
SVP Strategy, Business Development, and Marketing
I.D. Systems Media Contact:
Hardman Group, Inc.
Released July 30, 2019