I.D. Systems Enters Contract with NACCO Materials Handling Group, Inc. to Sell Wireless Fleet Management Systems Under Hyster Brand Network
14 April 2006
I.D. Systems, Inc. (Nasdaq: IDSY), a leader in wireless vehicle management technology, and NACCO Materials Handling Group, Inc. (NMHG), have entered into a strategic agreement to promote and sell I.D. Systems' Wireless Asset Net(TM) vehicle management system to dealers and customers of Hyster Company, a unit of NMHG. Hyster is a leading global lift truck manufacturer with 240 authorized dealer locations in North America.
"This agreement puts a new level of fleet monitoring capabilities into the hands of NMHG fleet managers, dealers and customers, and it significantly increases the addressable market for I.D. Systems' technology," said Rick Muntz, I.D. Systems' executive vice president of sales, marketing and customer satisfaction. "Access to the Hyster brand marketing organization enables I.D. Systems to capitalize on Hyster's extensive sales force, installation expertise, and maintenance and support capabilities. We are very excited to embark on this joint strategic marketing initiative and look forward to working with NMHG corporate management to expand sales activities related to our wireless vehicle management system."
"Hyster prides itself on providing leading-edge technological tools that benefit our customers and dealers," said Gary Bates, Hyster Company's Director of Parts Sales. "One of the most important areas in which we see growth and customer service opportunities is fleet management. With the proven capabilities and flexibility of I.D. Systems' wireless vehicle monitoring technology, Hyster would have the ability to configure solutions to meet a broad scope of customer and dealer requirements, from basic remote data collection for maintenance management to full-scale fleet control, tracking and analysis."
Based in Hackensack, NJ, I.D. Systems, Inc. is a leading provider of wireless solutions for managing and securing high-value enterprise assets. These assets include industrial vehicles, such as forklifts and airport ground support equipment, and rental vehicles. The Company's patented Wireless Asset Net system, which utilizes radio frequency identification, or RFID, technology, addresses the needs of organizations to control track, monitor and analyze their assets.
For more information, visit Hyster at http://www.hyster.com and I.D. Systems at http://www.id-systems.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and that are subject to risk and uncertainties, including, but not limited to, future economic and business conditions, the loss of any of the Company's key customers or reduction in the purchase of its products by any such customers, the failure of the market for the Company's products to continue to develop, the inability to protect the Company's intellectual property, the inability to manage the Company's growth, the effects of competition from a wide variety of local, regional, national and other providers of wireless solutions and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's registration statement on Form S-3 (File No. 333-131489). These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company. The Company assumes no obligation to update the information contained in this press release.
Source: prnewswire
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