HACKENSACK, N.J., Feb. 10 -- I.D. Systems, Inc. (Nasdaq: IDSY - News) announced today that it has received a purchase order from Golub Corporation, the privately held owner and operator of Price Chopper supermarkets, for I.D. Systems` Wireless Asset Net(TM) fleet management system. The system will be deployed on a fleet of material handling vehicles at Price Chopper`s primary distribution center. The order is valued at approximately $650,000.
"Price Chopper has always been a leader in distribution and merchandising technologies in the retail food industry," said spokesperson, Mona Golub. "We view I.D. Systems` Wireless Asset Net as a new way to increase return on our investment in material handling assets. The system is designed to improve vehicle safety controls, automate maintenance tasks, increase employee productivity, and streamline fleet operations. We are very excited about deploying the system."
"Price Chopper stores have enjoyed remarkable success in the northeast United States, and we are very pleased to provide Golub`s distribution operations team with a new set of tools to improve their work environment and reduce costs," said Rick Muntz, I.D. Systems executive vice president of sales and marketing. "Price Chopper also represents a new application of I.D. Systems` wireless asset management technology in the grocery distribution market -- an important space for our future growth."
About Golub Corporation
Based in Schenectady, New York, Golub Corporation owns and operates more than 100 Price Chopper grocery stores in New York, New Hampshire, Vermont, Connecticut, Pennsylvania, and Massachusetts, with estimated 2002 sales exceeding $2 billion. The family-owned company prides itself on longstanding traditions of innovative food merchandising, leadership in community service, and cooperative employee relations. Golub`s approximately 20,000 employees collectively own 55% of the company`s privately held stock. For more information on Golub Corporation and Price Chopper stores, visit http://www.pricechopper.com .
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 Archer Daniels Midland, DaimlerChrysler, Deere & Co., Federal Aviation Administration, Ford Motor Company, General Motors, Hallmark Cards, Target Corporation, the U.S. Navy, and the U.S. Postal Service, among others. 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. For more information on I.D. Systems, Inc., visit 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 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.