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
ned@id-systems.com
For Trade Press
Greg Smith, VP Marketing
gsmith@id-systems.com
201-996-9000
Fax: 201-996-9144
I.D. Systems Renews Agreement With Ford to Support Wireless Industrial Vehicle Management Technology
| Source: I.D. Systems, Inc.