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WOODCLIFF LAKE, N.J., Jan. 18, 2011 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management solutions, today announced that its marketing partner, Wiese USA, has placed a series of purchase orders for I.D. Systems' PowerFleet™ wireless Vehicle Management System (VMS). The system will be deployed on fleets of industrial trucks at three U.S. manufacturing plants of Caterpillar Inc. (NYSE:CAT).
Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and dieselelectric locomotives, as well as a leading services provider, with fiscal 2009 revenues of $32.4 billion. Wiese USA is a leading lift truck dealer and fleet services provider with operations throughout the midwest United States.
Wireless Vehicle Management Systems help improve material handling productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on equipment utilization. A wireless VMS also helps reduce industrial fleet maintenance costs by automatically uploading vehicle data, reporting vehicle 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.
"Wiese has long been a leader and an innovator in managing industrial vehicle fleets," said Mike Lonigro, Manager of Wiese's Caterpillar Business Unit. "The PowerFleet VMS has been extremely effective and reliable for our customers, including Caterpillar, where our initial PowerFleet deployments generated significant benefits in terms of material handling safety, cost reductions, and productivity improvements. These benefits led directly to the decision to expand the system fully across these three Caterpillar facilities."
"We are gratified that the positive results achieved by our PowerFleet system have compelled Wiese and Caterpillar to expand deployment of our technology across multiple plants," said Ken Ehrman, I.D. Systems' president. "This roll-out affirms our view that PowerFleet is a best practice in material handling management, which helps optimize industrial truck operations and gives our customers a significant competitive edge in their supply chains."
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, 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, 2009. 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 Chief Financial Officer firstname.lastname@example.org General Phone: 201-996-9000 For Trade Press Greg Smith Vice President Marketing email@example.com General Fax: 201-996-9144Source: I.D. Systems, Inc.
Released January 18, 2011