Archer Daniels Midland Purchases I.D. Systems' Wireless Fleet Management System.Business Editors HACKENSACK, N.J.--(BUSINESS WIRE)--April 24, 2002 I.D. Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : IDSY), a leading provider of end-to-end wireless asset management solutions, today announced that it has received an order for its Wireless Asset Net(TM)industrial fleet management system from Archer Daniels Midland The Archer Daniels Midland Company (NYSE: ADM), is a conglomeration based in Decatur, Illinois. ADMoperates more than 270 plants worldwide, where cereal grains and oilseeds are processed into numerous products used in food, beverage, nutraceutical, industrial and animal feed Company (NYSE NYSE See: New York Stock Exchange : ADM See add/drop multiplexer. (language) ADM - A picture query language, extension of Sequel2. ["An Image-Oriented Database System", Y. Takao et al, in Database Techniques for Pictorial Applications, A. Blaser ed, pp. 527-538]. ). Headquartered in Decatur, Illinois, Archer Daniels Midland ("ADM") is a global leader in agriculture and one of the world's largest processors of soybeans, corn, wheat, and cocoa. I.D. Systems' technology will be deployed initially on a fleet of industrial vehicles at an ADM distribution center in Decatur. ADM operates more than 350 additional facilities worldwide. "We are pleased to welcome ADM as our first major customer in the agricultural industry," stated Gary Marks, I.D. Systems Executive Vice President of Sales and Marketing. "With annual sales approximating $20 billion, ADM is a Fortune 100 company focused on performance, with a long history of utilizing technology to add value to its operations, from food production to distribution management. Our Wireless Asset Net technology gives ADM new methods by which to measure and control the productivity of its material handling fleet, reduce operating costs, and increase corporate profits. We are confident that ADM's experience with the Wireless Asset Net at its Decatur distribution facility will lead to an opportunity to expand our technology to additional ADM plants." ADM Director of Warehousing, Tony Ielase, said, "I.D. Systems' wireless solution for managing material handling equipment will provide us with significant benefits in the areas of safety control, maintenance management, and utilization optimization. ADM is focused on safety and cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. in its plants, and the Wireless Asset Net system gives us a new set of tools to help manage key issues like OSHA OSHA n. Occupational Safety and Health Administration, a branch of the US Department of Labor responsible for establishing and enforcing safety and health standards in the workplace. compliance, maintenance scheduling, and fleet productivity analysis." About I.D. Systems Based in Hackensack, New Jersey, I.D. Systems, Inc. is a leading provider of wireless solutions for corporate asset management. I.D. Systems' customers include British Airways, DaimlerChrysler, Deere & Co., Ford Motor Co., General Motors, Hallmark Cards, the Union Pacific Railroad Union Pacific Railroad, transportation company chartered (1862) by Congress to build part of the nation's first transcontinental railroad line. Under terms of the Pacific Railroads Act, the Union Pacific was authorized to build a line westward from Omaha, Nebr. , the U.S. Navy, and the U.S. Postal Service The U.S. Postal Service (USPS) processes and delivers mail to individuals and businesses within the United States. The service seeks to improve its performance through the development of efficient mail-handling systems and operates its own planning and engineering programs. . Using local area networks, wide area networks, and the Internet, the company's systems enable management to control and track the location and status of their assets--from letters and containers to forklifts and railcars--in real time. I.D. Systems' wireless fleet management system provides comprehensive solutions to the cost and safety issues facing managers of industrial equipment fleets. The company's system integrates diverse functionality, including wireless remote vehicle access control, electronic vehicle safety inspection checklists, advanced detection and analysis of true vehicle utilization, real-time vehicle location tracking, automatic real-time e-mail notification of critical safety-related events, and automated maintenance planning with real-time alerts for urgent repair issues. For more information on I.D. Systems, Inc., visit www.id-systems.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This press release contains forward looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand and market acceptance risks, fluctuations in operating results and other risks detailed from time to time in I.D. Systems' filings with the Securities and Exchange Commission. These risks could cause I.D. Systems' actual results for the current fiscal year and beyond to differ materially from those expressed in any forward looking statements made by, or behalf of, I.D. Systems. |
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