HADERA, Israel, Aug. 15, 2005 (PRIMEZONE) -- Malers Automation and Control Ltd. ("Malers") (Pink Sheets:MSNC), today announced that the Company is in the final stages of development of a radio frequency identification (RFID) system that can be used by medium to large size warehouses to safeguard inventory.
The equipment rental markets suffer greatly from inventory shrinkage, particularly from theft and poor management of the inventory. To date, there are no real-time tracking systems in these medium to large warehouses that can pinpoint the exact location of a specific item. As a result, orders prepared for clients can include additional items that were not ordered and not identified as leaving the warehouse. Of course, upon return of the rental equipment, these extra items are not included. Their loss, or disappearance, may not be noticed until the end of year inventory count.
"Our RFID system offers a much needed breath of new life for the warehouse management market," says Ronen Luzon, CEO of Malers. "We offer true real-time management of inventory across even several warehouses. With the RFID system we have developed, warehouse managers can virtually put an end to inventory shrinkage, saving them hundreds of thousands to millions of dollars every year."
Malers' RFID system includes the management software, a set of antennas that are located throughout the warehouses and passive RFID tags that are attached to the items. An average warehouse system will sell for approximately $20,000. The system confirms that items ordered are, in fact, passed on to the customer and then returned. In addition, items can be easily located within the warehouse and special notifications are made when items are not in their proper locations. The RFID system is Web-based, so it can be connected to existing intranet systems and the users can log on from anywhere to view the status of the inventory.
The Company plans to complete development within the next two to three months, including a pilot test project. In parallel, Malers is targeting vertical markets that are in need of the RFID system, so that the Company can launch its marketing efforts soon after completion of the development process.
"We are very optimistic about the global market opportunities for our RFID system," notes Luzon. "We have already identified a solid need in the scuba diving, furniture and events rental markets, and this is just a beginning."
About Malers
Malers Automation and Control Ltd. is an Israeli systems company that develops, manufactures, sells and maintains automation and control systems for industrial applications. The Company produces turn-key systems that replace labor-intensive, error-prone and costly manual production and monitoring functions. Since the Company's inception in 1996, Malers' custom designed systems have been installed in major industrial applications worldwide. Their systems offer centralized and remote control of complex manufacturing processes, and data collection and analysis systems.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.