HACKENSACK, N.J., March 23, 2009 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless Vehicle Management Systems (VMS), today announced that it has received a purchase order to implement its PowerFleet(tm) VMS on a fleet of industrial trucks at the Vance, Alabama, automotive manufacturing complex of Mercedes-Benz U.S. International. The order was placed by I.D. Systems' strategic marketing partner NACCO Materials Handling Group, Inc., a leading global industrial truck manufacturer, and facilitated by Barloworld Handling, the world's largest dealer of Hyster(r) brand industrial trucks. Mercedes-Benz U.S. International is a subsidiary of Stuttgart, Germany-based Daimler AG (NYSE:DAI), a globally leading producer of premium passenger cars and the largest manufacturer of heavy- and medium-duty trucks in the world. Wireless Vehicle Management Systems help improve supply chain 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 reduces 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. "It is extremely gratifying to add Mercedes-Benz to our world-class customer base," said Peter Fausel, I.D. Systems' executive vice president of sales, marketing and customer service. "We view Daimler as a global leader in adopting best-practice technology to streamline manufacturing operations, and we believe Mercedes' investment in I.D. Systems' VMS technology is a reflection of its exceptional value -- particularly during difficult economic conditions -- in managing the inherent safety, productivity, and operational cost issues associated with fleets of industrial vehicles." About I.D. Systems: Based in Hackensack, New Jersey, with a European business office in Dusseldorf, Germany, I.D. Systems 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 Receives Purchase Order to Deploy Wireless Industrial Vehicle Management Technology At Mercedes-Benz' Vance, AL, Manufacturing Plant
| Source: I.D. Systems, Inc.