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HACKENSACK, N.J., Feb. 12, 2009 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless vehicle management systems (VMS), today announced that it has renewed its agreement with Ford Motor Company to provide maintenance and support services for Ford's enterprise-wide deployment of I.D. Systems' industrial vehicle management systems and associated battery monitoring systems. Ford has had the technology deployed in plants throughout North America since 2003 to enhance workplace safety, help reduce operating costs, and improve the utilization of forklifts and other material handling equipment.
"We are gratified that I.D. Systems' technology continues to be a sound investment choice for Ford," said Peter Fausel, I.D. Systems' executive vice president of sales, marketing and customer support. "We look forward to continue helping Ford derive benefits from our wireless industrial vehicle management system."
I.D. Systems' wireless industrial vehicle management system is designed to enhance the safety, security, maintenance, and utilization of industrial equipment. The system improves safety and security by restricting vehicle access to trained, authorized operators (as required by OSHA) and by providing electronic safety inspection checklists. The system helps reduce maintenance expenses by automatically uploading vehicle data, reporting problems identified on checklists in real time, basing maintenance schedules according to actual vehicle usage rather than on a calendar basis, and helping management determine the optimal economic time to replace equipment. In addition, the system can help improve equipment utilization and reduce the total cost of fleet ownership by ensuring equipment is in the proper place at the right time and streamlining work flow through automated messaging.
About I.D. Systems: Based in Hackensack, New Jersey, with a European business office in Dusseldorf, Germany, I.D. Systems, Inc. is a leading provider of wireless solutions for managing and securing high-value enterprise assets, including industrial vehicles, such as forklifts and airport ground support equipment, and rental vehicles. The company's patented technology, which utilizes radio frequency identification, or RFID, technology, addresses the needs of organizations to control, track, monitor and analyze their assets. For more information, visit www.id-systems.com.
"Safe Harbor" Statement: 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, such as the Company's outlook for 2008 financial results and prospects for additional customers and revenues. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our 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. These forward-looking statements 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, 2007. 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, VP Marketing email@example.com 201-996-9000 Fax: 201-996-9144
Released February 12, 2009