TrackX Announces Major Solution Expansion with Global Household Appliance Manufacturer

DENVER, Dec. 03, 2018 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSX.V:TKX | FRANKFURT:3TH) (“TrackX” or the “Company), a Software-as-a-Service (SaaS)-based enterprise asset management solution provider, today announced another major expansion. An existing TrackX customer, one of the largest appliance manufacturers in the United States, will expand its current TrackX Yard Management solution to an additional 8 facility locations in the United States for a total of 11 facilities.  To date, TrackX’s GAME (Global Asset Management for Enterprises) platform has been successfully installed in 3 locations, including at the customer’s operational headquarters in the United States.  This new expansion of an additional 8 locations is planned to be completed by October 2019.

“The customer really understands the value of a technology-enabled supply chain to provide the very best experience to their customers,” said Tim Harvie, CEO of TrackX. “Through continued collaboration with the customer team, we will continue to demonstrate the full value of TrackX’s enterprise asset management solutions. We look forward to introducing additional features, functions, and workflows that hopefully will lead to a further expansion of GAME in support of other supply chain initiatives within this leading appliance manufacturer’s operations.” 

The initial installation of the TrackX Yard Management solution for this customer represents one of the largest implementations completed by the Company to date.  Comprised of 6 buildings, 15 yard trucks, and more than 1,000 trailers on site at any one time, the installation validates TrackX’s ability to accommodate very large and complex environments.  Now installed at 3 sites, the TrackX solution has provided the results and process efficiencies anticipated by the customer and is flexible enough to support the customer’s current and future business requirements.  Among the many benefits realized are improved equipment utilization, efficient labor management, increased dock efficiency, a reduction in carrier detention charges, improved security, improved gate operations, accurate inventory, and labor savings across all yard related business processes.

About TrackX

TrackX, Inc. (TSX.V:TKX ), based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's Global Asset Management for Enterprises (GAME) platform enables the IIoT by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.

For more information, please contact:

Gene McConnell, TrackX Holdings Inc.

Sean Peasgood, Sophic Capital 

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.