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Boomerang Systems Secures Strategic Partnership With Stokes Industries To Offer Mechanical Parking Solutions

Stocks in this article: BMER

FLORHAM PARK, N.J., Feb. 28, 2012 /PRNewswire/ -- Boomerang Systems, Inc., (OTCQB: BMER) a leading designer and manufacturer of fully automated robotic parking and self-storage systems, today announces the formation of a strategic partnership with Stokes Industries, a veteran parking industry provider with over 25 years experience engineering innovative mechanical parking solutions throughout the world. 

The two companies have formed a joint venture that will provide the North American market with a full line of mechanical parking products and services, including design, engineering, installation and maintenance.  Mechanical parking systems such as "stackers," "lift-slide" or "puzzle park" are not fully automated, however, they provide many of the same space saving benefits of fully automated robotic parking systems.  By partnering with Stokes to provide mechanical parking systems, Boomerang can now provide developers, architects and parking operators with a full suite of parking density solutions.

"The ability to offer our customers a line of mechanical parking systems rounds Boomerang out as a one-stop shop provider to the industry," said Boomerang President, Chris Mulvihill.  "We believe we already offer the best fully automated robotic system on the market, but we recognize there are plenty of cases where stackers, lift-slide or puzzle park systems may be a more suitable solution.  Our sense has been that prospective buyers of these mechanical parking systems have had reservations about the quality of product and reliability of some of the suppliers, so we saw a gap in the market that we believe we can fill. After investigating a number of options, selecting Stokes as a partner was an easy choice.  Van Stokes Sr. was winning patents on mechanical parking systems before I had my first car, and there are few things in the industry he has not seen or been a part of.  We are thrilled to be teaming up with such an accomplished and experienced group."

Van Stokes Sr., founder of Stokes Industries commented, "We have seen many people come and go in this business, but we have been fully impressed with Boomerang's momentum and commitment to the industry.  We believe that our proven quality offerings coupled with Boomerang's strong position in the US, proven engineering abilities and expertise in the real estate market will take our North American business to a whole new level."

The name of the newly formed partnership is Boomerang-Stokes Mechanical Parking, LLC, doing business as Boomerang MPS, with day to day operations managed by the JV's President, Peter Anderes.  The company will operate out of Boomerang's Florham Park offices at 30B Vreeland Road in Florham Park, New Jersey.

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