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WOODCLIFF LAKE, N.J., Oct. 27, 2010 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management solutions, today announced that it has entered into an agreement with the National Center for Manufacturing Sciences (NCMS) to deploy I.D. Systems' PowerFleet™ Wireless Vehicle Management System on a fleet of material handling equipment at the Red River Army Depot.
NCMS is a non-profit organization, funded in part by the U.S. Department of Defense (DoD), that forms partnerships between the DoD and private industry under the Commercial Technologies for Maintenance Activities (CTMA) program. NCMS facilitates development, deployment and validation of innovative commercial technologies that provide operational benefits and cost savings for DoD maintenance activities.
Red River Army Depot is an installation of the U.S. Army's Tank-automotive and Armaments Command (TACOM) under the U.S. Army Materiel Command. The Depot's mission is to provide worldwide logistics support for the U.S. Army, including receipt, storage, repair, shipping, maintenance, and fabrication of assets.
"Maintenance is a significant strategic focus for the DoD, as an essential element of materiel readiness, and maintenance operations absorb a significant percentage of the defense budget," said Greg Kilchenstein of the Office of the Secretary of Defense for Acquisition, Technology and Logistics. "We are pleased that one of the Army's primary maintenance depots will have access to a technology that has had proven success in the commercial sector to reduce maintenance costs, improve safety, and increase productivity in material handling operations."
A wireless Vehicle Management System (VMS) helps improve material handling 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 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.
"The National Center for Manufacturing Sciences is proud to continue its strong tradition of identifying and helping implement best-practice commercial technologies for DoD applications," said Chuck Ryan, NCMS Vice President of Technology. "We look forward to seeing the proven commercial capabilities of the PowerFleet system translate into significant operational benefits for DoD maintenance activities."
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, 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.
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Released October 27, 2010