123 Tice Blvd. Suite 101
Woodcliff Lake, NJ 07677
PLANO, Texas, Feb. 14, 2012 (GLOBE NEWSWIRE) -- Asset Intelligence, a leading provider of supply chain asset tracking solutions and a subsidiary of I.D. Systems, Inc. (Nasdaq:IDSY), has won a contract from FAB Express, Inc. to deploy its VeriWise™ Dry Van management system on FAB's fleet of approximately 1,000 cargo trailers.
The VeriWise Dry Van solution is an advanced trailer tracking system that provides real-time data to improve the efficiency of cargo transport fleets. The system features GPS-based location tracking, real-time two-way communications via satellite network, and patented power management technology to provide exceptionally long battery life and years of maintenance-free operation.
FAB Express is a fourth-generation, family-owned trucking company that has provided transportation services for over 100 years. The company, based in Lemont, Illinois, specializes in trucking services for the paper and corrugated products industry.
Fred Bartuch, Jr., President of FAB, said, "Our customers wanted to get better visibility of their materials in transit, to help increase the velocity of their supply chain. After a competitive review of several systems, we chose VeriWise Dry Van from Asset Intelligence because it delivered superior functionality and reliability.
"This is the first time we have deployed advanced asset tracking technology on our dry vans, so we wanted to get it right. After a series of competitive tests, we determined that not only did VeriWise fulfill our customers' need for cargo visibility, it also enabled us to monitor and dispatch our trailer fleet more efficiently. For example, the system let us understand in real time when trailers were sitting at customer sites longer than they should be. By shedding light on situations like that, which had previously been a bit of a black hole for us, the VeriWise system will help us generate more revenue from our assets."
"FAB Express is a welcome addition to our family of customers," said Darryl Miller, I.D. Systems' COO. "We are confident that by using our VeriWise Dry Van tracking and management system, FAB will improve both customer satisfaction and fleet operating efficiencies."
About I.D. Systems and Asset Intelligence
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.
Asset Intelligence, a subsidiary of I.D. Systems based in Plano, Texas, is a leading provider of trailer and container tracking solutions for manufacturers, retailers, shippers and freight transportation providers. It offers a full range of solutions to improve safety, security and productivity throughout global supply chains.
"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, 2010. 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: Todd Felker, EVP Marketing firstname.lastname@example.org Phone: 972-398-7303Source: I.D. Systems, Inc.
Released February 14, 2012