Ford Europe Expands Deployment Of I.D. Systems' Wireless Vehicle Management System
WOODCLIFF LAKE, N.J., Jan. 20, 2011 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management solutions, today announced that Ford Motor Company (NYSE:F) is expanding its deployment of I.D. Systems' wireless Vehicle Management System (VMS) to industrial truck fleets at two manufacturing plants in the United Kingdom and a third facility in Romania. The system was previously implemented at Ford plants in Spain and Germany, as well as across all Ford manufacturing facilities in North America.
I.D. Systems' German subsidiary, I.D. Systems GmbH, facilitated Ford Europe's expansion of the system by integrating it into the lease financing for the vehicles on which the system will be installed. I.D. Systems GmbH will manage the expansion project, and I.D. Systems' United Kingdom subsidiary, didBOX Ltd., will install and support the two new deployments in the U.K.
Ford's acquisition of I.D. Systems' VMS was also facilitated by a major European lift truck manufacturer, which ordered portions of the system on Ford's behalf. To optimize the ease and speed of vehicle hardware installation, I.D. Systems will provide a cable harness designed especially for the manufacturer's lift trucks.Ford representatives are convinced that I.D. Systems' wireless technology, which Ford calls their Industrial Vehicle Electronic Control System, has demonstrated an ability to enhance workplace safety, help reduce operating costs, and improve the overall utilization of material handling equipment. "We are gratified by Ford's decision to expand its use of our patented wireless vehicle management technology, and view it as a reflection of the many quantifiable benefits our system provides for manufacturing operations," said Jeffrey Jagid, I.D. Systems chairman and chief executive officer. "We are also pleased about the positive impact this new business will have on our continued growth in Europe." I.D. Systems' wireless VMS for industrial vehicles is designed to enhance the safety, security, maintenance, and utilization of industrial equipment. The system improves safety and security by restricting vehicle access to trained, authorized operators and by providing electronic safety inspection checklists. The system helps reduce maintenance expenses by automatically uploading vehicle data, reporting problems identified on checklists in real time, basing maintenance schedules according to actual vehicle usage rather than on a calendar basis, and helping management determine the optimal economic time to replace equipment. In addition, the system can help improve equipment utilization and reduce the total cost of fleet ownership by ensuring equipment is in the proper place at the right time and streamlining work flow through automated messaging.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV