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$935,000 Purchase Order Funds Deployment of PowerFleet® Wireless Vehicle Management System at Three Sites in China
WOODCLIFF LAKE, N.J., Feb. 10, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has received a purchase order valued at $935,000 from one of the world's largest consumer packaged goods (CPG) companies, a long-time I.D. Systems customer. The order calls for I.D. Systems to deploy its PowerFleet® wireless Vehicle Management System (VMS) on fleets of industrial trucks at three of the customer's facilities in the People's Republic of China.
After implementation, the customer will have deployed the PowerFleet VMS on more than 1,300 vehicles across 19 sites worldwide, including in Asia, Africa, Europe, South America, and North America. The order was secured and implementation will be overseen by I.D. Systems' European subsidiary, I.D. Systems GmbH.
"This will be the first deployment of our patented wireless technology in China, the world's fastest-growing market for industrial vehicles," said Jeffrey Jagid, I.D. Systems' chairman and CEO. "This global CPG customer has clearly derived significant financial and operational benefits from our wireless systems, and we look forward to continue deploying our unique solutions for this customer around the world."
I.D. Systems holds more than 60 patents related to its wireless solutions, including a patent in China for its core electronic control system and network.
About Vehicle Management Systems
Vehicle Management Systems (VMS) help improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, scheduling maintenance according to actual usage rather than by calendar time, and helping determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve supply chain productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on equipment utilization.