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I.D. Systems, Inc. Receives $113,000 Order from Dana Commercial CreditFor Automated Vehicle Management System
One of Largest Industrial Fleet Management Companies in U.S.
Adopts I.D. Systems Technology
NEW YORK, Sept. 30 /PRNewswire/ -- I.D. Systems, Inc. (Nasdaq: IDSY), a leader in wireless asset monitoring systems, today announced that Dana Commercial Credit Corporation (DCC), an indirect wholly owned subsidiary of Dana Corp. (NYSE: DCN), has placed an initial order for I.D. Systems' automated vehicle tracking and management system. The order is valued at approximately $113,000 and is the initial step in adopting the technology for use throughout DCC's existing national forklift fleet.
DCC, based in Toledo, provides leasing and fleet management services to companies throughout North America, and has thousands of vehicles within their program. DCC will initially implement I.D. Systems' technology on approximately 80 forklifts at two of its existing customers' locations.
Andy Suhy, Group Manager of DCC's Industrial Equipment Group, said: "We are very excited to incorporate the I.D. Systems technology into our comprehensive fleet management program. We believe that the IDS system automates many aspects of industrial vehicle management, will assist our customers' compliance with critical new OSHA safety regulations, and will allow us to provide our customers with a level of service and value unmatched in the industry."
Greg Smith, I.D. Systems Director of Marketing, added: "DCC is a world-class organization and a major player in industrial equipment fleet management. With a portfolio of several thousand vehicles, DCC represents a significant opportunity for us to expand our presence in this market, and we are eager to build a strong and enduring relationship with them."
Smith continued: "This order reflects our continuing efforts to do business with companies that push the technological envelope in their industries. We view this purchase by DCC as a strong endorsement of our technology, and we expect our system to significantly improve fleet utilization and reduce costs for DCC's customers."
Based on patented radio frequency identification technology, the I.D. Systems' vehicle management system offers an efficient, cost-effective way to monitor and analyze fleets of industrial vehicles, such as forklifts. The automated system provides access control and vehicle security, helps ensure driver compliance with OSHA requirements, establishes driver accountability for vehicle damage, tracks vehicle location and movement (both real-time and historical), allows two-way communication with drivers, helps enforce preventative maintenance schedules, and monitors vehicle utilization and fleet efficiency.
Dana Commercial Credit (DCC), one of seven Strategic Business Units of FORTUNE 500 Dana Corporation, is a premier provider of leasing and financing services to a broad range of business customers in selected markets. DCC's Internet address is dcc.com.
Based in New York City, I.D. Systems designs, develops and produces a wireless monitoring and tracking system that uses radio frequency technology. Its system can monitor, track, analyze and control the movement of virtually any object, including vehicles, equipment and packages. Principal customers to date include the United States Postal Service, Federal Express Corporation, Avis Rent A Car System, Inc., Ford Motor Corporation, Hallmark Cards, Inc., QVC Inc. and World Color Press, Inc.
For more information on I.D. Systems, Inc., visit the company's World Wide Web site at id-systems.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements may be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including uncertainties and other risks detailed from time to time in the Company's Securities and Exchange Commission filings.
SOURCE I.D. Systems, Inc.
CO: I.D. Systems, Inc.; Dana Commercial Credit Corporation; Dana Corp.
ST: New York
IN: TLS
SU:
09/30/1999 06:00 EDT prnewswire.com
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