Praxair Chooses Iteris Lane Guidance System
ANAHEIM, Calif.--Nov. 14, 2002--Iteris Inc., a subsidiary of Odetics Inc. today announced that Praxair Inc. of Danbury, Conn., has committed to an initial order of 200 new trucks with the Iteris Lane Guidance(TM) lane departure warning system installed as a cost-effective tool to increase driver awareness and reduce accidents.The Iteris lane departure warning system, part of the AutoVue(TM) family of products, was chosen as a result of Praxair's ongoing research into equipment that would increase the safety of their drivers.
"Praxair's order signifies the full scale emergence of Lane Guidance(TM) in the North American truck market for Iteris," said Francis Memole, vice president of vehicle sensors for Iteris.
"Praxair chose the Iteris Lane Guidance(TM) system in order to enhance the safe operation of our fleet of greater than 600 delivery trucks," said John Mitchell, Praxair national manager of distribution. "All new trucks purchased by Praxair will be spec'ed with the Iteris Lane Guidance(TM) lane departure warning system."
"We are pleased that Praxair has put their trust in the Iteris Lane Guidance(TM) system and we are confident it will play a significant role in enhancing the safety of their trucks," said Memole.
Lane departures are a serious problem with serious consequences. Statistically, lane departures were listed as a factor in 43% of all the fatal accidents in the United States in 2001. Lane Guidance(TM) is part of the AutoVue(TM) family of products intended to complement the way drivers operate their vehicles.
By detecting unintentional departures, AutoVue lane departure warning technology gives drivers more information at a time when they may be distracted or otherwise unaware of the impending departure.
About Iteris Inc.
Iteris, a subsidiary of Odetics, is the technology leader in systems and sensors for surface transportation. Iteris has combined outdoor image processing, traffic engineering and information technology to offer a broad range of telematics and transportation solutions. If you are interested in viewing more information on Iteris, visit the Web site at http://www.iteris.com.
About Praxair
Praxair is a global, Fortune 500 company that supplies atmospheric, process and specialty gases, high-performance coatings, and related services and technologies.
About Odetics
Odetics develops products and services to address the safety, security and management of roadways, facilities and networks. Odetics is a market leader for systems and sensors for surface transportation, a supplier of facility access control and Environmental Security systems, and a developer of broadcast automation systems.
Odetics is also a leading provider of equipment built around specific government mandates for secured communications. Odetics has headquarters in Anaheim. Investors are encouraged to contact the company at 714/774-5000 or at http://www.odetics.com.
Important Notice
This news release contains statements that may be deemed to be forward-looking. These forward-looking statements may include statements about new orders, revenue growth and other statements relating to the operating results of Odetics or its subsidiaries. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors such as: short product lives, technological shifts, current technical issues that cannot be resolved on a timely basis, component availability, competition (including new and directly competitive products from others), pricing pressures, incorrect assumptions regarding market demand, the significant uncertainty of market acceptance of new products by both distributors and end-user customers, unanticipated capital requirements, retention of key personnel, general economic conditions and other factors identified in Odetics' Annual Report on Form 10-K and Quarterly Report on Form 10-Q.
Investors are strongly encouraged to review the risk factors set forth in Odetics' most recent SEC filings.