I.D. Systems, Inc.
10.05.2012 15:00
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WOODCLIFF LAKE, N.J., 2012-05-10 15:00 CEST (GLOBE NEWSWIRE) --
I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for
securing, tracking and managing high-value enterprise assets, today announced
that BASF (FRA:BAS), the world's leading chemical company, is expanding its
deployment of I.D. Systems' VeriWise(tm) Track and Trace systems for managing
fleets of trailers, totes, and railcars.
VeriWise Track and Trace provides real-time data to improve the efficiency and
security of transportation fleets. It is designed for quick, flexible
installation on a wide range of cargo-carrying assets, with patented power
management technology to provide exceptionally long battery life and years of
maintenance-free operation. Track and Trace is also unique in its intrinsic
safety, with Underwriter Laboratories' highest certification for use in
proximity to hazardous materials.
BASF (www.basf.us) manufactures a broad portfolio of chemicals, plastics,
petroleum, crop protection products, and other materials that contribute to
resource conservation, healthy food and nutrition, and an enhanced quality of
life. Based in Ludwigshafen, Germany, with North American headquarters in
Florham Park, New Jersey, BASF is ranked 71st on the 'Global 100' list of the
world's largest companies, with 2011 revenues of more than [Eur]73 billion.
'The safe and secure transportation and storage of our products is part of
BASF's commitment to social responsibility and environmental protection,' said
Steven P. Williams, BASF Logistics Technology Manager. 'We are deploying
VeriWise on a diverse range of transportation assets because the system
improves our efficiency reliably and cost-effectively, is easy to install and
maintain, and is intrinsically safe for our sensitive materials.
'We integrate real-time asset location data from VeriWise with other
information systems to eliminate blind spots in the supply chain, schedule
shipment deliveries more accurately, and meet or exceed government safety and
security standards across the United States, Canada, and Mexico.'
Darryl Miller, Chief Operating Officer of I.D. Systems, said, 'We are gratified
to expand our relationship with BASF. We remain committed to helping BASF
optimize the efficiency of its North American supply chain through our
affordable, easy-to-deploy asset tracking systems. At the same time, we are
proud of the key role our technology plays in helping BASF meet regulatory
requirements for the safe transport of its products.'
About I.D. Systems
Based in Woodcliff Lake, New Jersey, with subsidiaries in Germany and the
United Kingdom, I.D. Systems is a leading provider of solutions for securing,
controlling, tracking, and managing high-value enterprise assets, including
vehicles, powered equipment, trailers, containers, baggage, and cargo. The
Company's patented technologies address the needs of organizations to monitor
and analyze their assets to improve safety, security, efficiency, and
productivity. For more information, visit www.id-systems.com.
'Safe Harbor' statement:
This press release contains forward looking statements within the meaning of
federal securities laws. Forward-looking statements include statements with
respect to I.D. Systems' beliefs, plans, goals, objectives, expectations,
anticipations, assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors, which may be
beyond I.D. Systems' control, and which may cause its 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. For example,
forward-looking statements include: statements regarding prospects for
additional customers; market forecasts; projections of earnings, revenues,
synergies, accretion or other financial information; and plans, strategies and
objectives of management for future operations, including integration plans in
connection with acquisitions. The risks and uncertainties referred to above
include, but are not limited to, future economic and business conditions, the
loss of key customers or reduction in the purchase of products by any such
customers, the failure of the market for I.D. Systems' products to continue to
develop, the possibility that I.D. Systems may not be able to integrate
successfully the business, operations and employees of acquired businesses, the
inability to protect I.D. Systems' intellectual property, the inability to
manage growth, the effects of competition from a variety of local, regional,
national and other providers of wireless solutions, and other risks detailed
from time to time in I.D. Systems' filings with the Securities and Exchange
Commission, including its annual report on Form 10-K for the year ended
December 31, 2011. These risks could cause actual results to differ materially
from those expressed in any forward looking statements made by, or on behalf
of, I.D. Systems. I.D. Systems assumes no obligation to update the information
contained in this press release, and expressly disclaims any obligation to do
so, whether as a result of new information, future events or otherwise.
CONTACT: For Financial Press
Ned Mavrommatis, CFO
ned@id-systems.com
201.996.9000
For Trade Press
Todd Felker, EVP Marketing
tfelker@id-systems.com
972.398.7303
News Source: NASDAQ OMX
10.05.2012 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: I.D. Systems, Inc.
United States
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ISIN: US4494891033
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DGAP-News: BASF Expands Deployment of VeriWise(TM) Track and Trace to Manage Fleets of Transportation Assets
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