WebTech Wireless and TireStamp Team to Trial Tire Monitoring TechnologyKANATA, Ontario & BURNABY, British Columbia--May 17, 2005--TireStamp Inc. today announced that WebTech Wireless Inc. (TSX VENTURE:WEW) of Burnaby, British Columbia, Canada will trial its TireVigil(TM) Tire Monitoring and Asset Management Service for fleet clients. The system provides commercial fleets with mission-critical tire management information that can result in savings of in excess of $2,000 per truck per year. This saving is vital to an industry comprised of 15 million North American trucks that recognizes 4.8% net profit on $97.9 billion in revenue.
Tires represent the third largest cost to commercial trucks after driver wages and fuel. Proper tire management can result in:
- Reduced roadside delays resulting from flat tires (a truck can experience 1 flat tire a year, which results in service fees of $1,000-2,000 per flat)
- Extended tire life by up to 30% (through maintaining correct tire pressure)
- Fuel Savings (maintaining correct tire pressure can save 1-4% in fuel costs)
- Increased life of tire casing (proper tire management can allow for 3-5 retreads for the life of one tire casing, resulting in savings in excess of $1,000 per truck per year)
TireVigil, the first tire management system of its kind available to commercial and industrial fleet operators, allows the fleet to manage their tire assets while they are on the road. Constant updates are transmitted from tire sensors via WebTech's wireless locator and are easily accessed through TireStamp's servers.
"Providing our fleet customers with increased ability to reduce costs and affect bottom line results strengthens our offering for the long-haul market," said Anwar Sukkarie, President and CEO, WebTech Wireless. "Additional value through better tire asset management complements our fleet services and establishes another venue for fleets to remain competitive and cost effective."
"The benefits of proper tire management are far reaching," said Scott Feagan, TireStamp's CEO. "Poor tire maintenance is a major cause of accidents. Better tire performance will reduce tire related incidents and associated costs."
TireVigil is enabled by Telematics Service Providers, such as WebTech Wireless, who license the TireVigil components from TireStamp. TireVigil includes InBay, OnBoard, and Navigator components along with embedded licensed components.
TireStamp is an event sponsor at the Telematics Detroit 2005 - Conference on May 16, 2005 and 17 at the Laurel Manor in Livonia, Michigan. This event is the worlds's only specialist telematics exhibition. TireStamp will be giving a presentation on "How Telematics Suppliers Can Generate ROI from the Safety Value Proposition" as part of Track One on Tuesday at 2:40 PM. TireStamp is also participating in the Exhibit hall and can be visited at Booth #7.
About WebTech Wireless Inc.
WebTech Wireless Inc. (TSX VENTURE:WEW) is a global Telematics, location-based services provider that develops, manufactures, and delivers turnkey wireless solutions designed to improve productivity and profitability. WebTech products include wireless hardware and software services running on cellular and satellite networks, and include Automatic Vehicle Location, Mapping, Reporting, Vehicle Maintenance, Driver Status, In-vehicle Telemetry, Messaging, In-vehicle Navigation, and wireless application and Internet connectivity. WebTech is currently providing devices and services worldwide in eight languages to over forty-one countries covering five continents. WebTech's scalable solutions are used by a broad range of small, medium, Fortune 500 companies and governments.
TireStamp is an asset intelligence company, which collects and analyzes tire data on passenger and commercial vehicles. TireStamp provides expertise on tires and their effects on operational costs, tire life-cycle management, vehicle safety, fuel efficiency, asset management and other critical performance data. Its customers are commercial fleets, telematics companies and tire and vehicle OEMs. Its TireVigil(TM) service allows fleets to reduce tire and fuel costs and improve operations and fleet safety. For additional information please visit our web site at www.tirestamp.com.
WebTech Wireless Inc. (TSX VENTURE:WEW)