Ford Motor Company Awards I.D. Systems, Inc. Purchase Order as Part of Safety and Industrial Vehicle Security Initiative
HACKENSACK, N.J.--Dec. 13, 2001--I.D. Systems, Inc. , a leading provider of end-to-end wireless asset management solutions, today announced that Ford Motor Company has placed a blanket purchase order with I.D. Systems for its wireless Industrial Vehicle Electronic Control System (IVECS) for powered material handling vehicles.
The order, which resulted from the successful completion of a pilot program at Ford's Michigan Truck Plant in Wayne, Michigan, enables Ford to implement the IVECS system at more than 40 Ford facilities throughout North America. Ford can draw against the blanket purchase order as needed. I.D. Systems expects initial releases under the order to commence during the first quarter of 2002.
"This blanket purchase order reflects our continued success transitioning pilot programs into corporate-wide implementations," said Jeffrey Jagid, I.D. Systems Chairman and Chief Executive Officer. "The order also represents a significant milestone in our strategic plan to position our technology as the standard for wireless fleet management.
"By placing this order with I.D. Systems," Mr. Jagid continued, "Ford is investing in a new generation of safety and security technology for its industrial vehicles. The benefits of IVECS--particularly its ability to aid in the reduction of vehicle maintenance costs--will be important in light of current economic conditions. In addition, IVECS will assist in ensuring compliance with key safety regulations and in matching fleet requirements to changes in manufacturing needs. We look forward to working with Ford on the roll-out of IVECS throughout North America."
I.D. Systems' Wireless Asset Net system enhances safety, security, and maintenance for forklifts and other industrial equipment. The system improves safety and security by restricting vehicle access to trained (as required by OSHA) and authorized operators, providing electronic safety inspection checklists, and electronically recording accidents. The system can reduce maintenance expenses by automatically uploading vehicle data, reporting problems identified on checklists in real time, scheduling maintenance according to actual vehicle usage rather than on a calendar basis, and helping management determine the optimal economic time to replace equipment.
About I.D. Systems
Based in Hackensack, New Jersey, I.D. Systems, Inc. is a leading provider of wireless solutions for corporate asset management. I.D. Systems' customers include British Airways, DaimlerChrysler, Deere & Co., Ford Motor Company, General Motors, Hallmark Cards, the Union Pacific Railroad, the U.S. Navy, and the U.S. Postal Service. Using local area networks, wide area networks, and the Internet, the company's systems enable management to control and track the location and status of their assets--from letters and containers to forklifts and railcars--in real time. For more information on I.D. Systems, Inc., visit www.id-systems.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand and market acceptance risks, fluctuations in operating results and other risks detailed from time to time in I.D. Systems' filings with the Securities and Exchange Commission. These risks could cause I.D. Systems' actual results for the current fiscal year and beyond to differ materially from those expressed in any forward looking statements made by, or behalf of, I.D. Systems.