ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, today announced that Sumitomo Construction Machinery Co., Ltd. (Sumitomo) has selected ORBCOMM to provide wireless data connectivity for their global Original Equipment Manufacturers (OEM) telematics solution.
Sumitomo, which is one of Japan's leading manufacturers of excavators, asphalt pavers and other construction equipment, will use ORBCOMM’s global satellite communications network to track and monitor the location, status and performance of their equipment anywhere in the world. Sumitomo’s advanced asset monitoring solution will help the company gain visibility over its fleet of machinery, improve operational efficiency, maximize cost savings, and ultimately provide better service to its customers. Global deployment of the OEM installation will begin in mid-2013.
“We are excited to work with Sumitomo, an industry leader in technological innovation, to help bring their telematics solution to the global marketplace,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “Sumitomo’s agreement with ORBCOMM once again confirms the value and power of our global M2M network and validates our position as the leader in heavy equipment telematics. Together, we will meet the growing demand of faster, more cost-effective connectivity and integrated solutions that enable smart machines.”
“This partnership combines ORBCOMM’s ubiquitous coverage and expertise in satellite M2M communications with our high-performance technology to create a dynamic telematics solution,” said Mitsunori Kawamura, Sumitomo’s Corporate Officer of the Customer Support Division. “We look forward to leveraging this opportunity with ORBCOMM to increase our market share in heavy equipment telematics and pass along the benefits of our superior asset management solution to our customers.”About ORBCOMM Inc. ORBCOMM is a leading global satellite data communications company, focused on Machine-to-Machine (M2M) communications. Its customers include Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery, Hyundai Heavy Industries, Asset Intelligence (a division of I.D. Systems, Inc.), Komatsu Ltd., Manitowoc Crane Companies, Inc., and Volvo Construction Equipment among other industry leaders. By means of a global network of low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communication services track, monitor and control mobile and fixed assets in our core markets: commercial transportation; heavy equipment; industrial fixed assets; marine; and homeland security. ORBCOMM based products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. Through its recently acquired StarTrak Information Technologies, LLC and StarTrak Logistics Management Solutions, LLC (formerly PAR Logistics Management Solutions) businesses, ORBCOMM is an innovator and leading provider of tracking, monitoring and control services for the refrigerated transport market. Under its ReeferTrak ®, GenTrak TM, and CargoWatch TM brands, the company provides customers with the ability to proactively monitor, manage and remotely control their refrigerated transport assets. Additionally, ORBCOMM provides Automated Identification System (AIS) data services for vessel tracking and to improve maritime safety to government and commercial customers worldwide. ORBCOMM is headquartered in Rochelle Park, New Jersey and has its network control center in Dulles, Virginia. For more information, visit www.orbcomm.com. Forward-Looking Statements Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2011, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.
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