Close WindowMelanie Stone
Director, Marketing Communications Aeris.net
+1 (650) 823-1223
Jeff Adams
Public Relations Manager CSI Wireless Inc.
403-259-3311/615-8747 (cell)
Calgary, Alberta | May 17, 2004 - (TSX:CSY) —CSI Wireless Inc., a designer and manufacturer of advanced wireless and GPS products used in more than 40 countries, today announced an agreement to begin supplying asset-tracking units to Caterpillar Inc., one of the world's largest manufacturers of construction and mining equipment. Initial shipments are to begin this month.
Caterpillar will offer its new Product Link PL102C as an after-market product to enable equipment owners and insurers to accurately monitor their assets' movements and engine running hours.
The Product Link PL102C will feature configurability to enable users to select what operational information - movements and engine hours being only two of many options - they want to remotely receive from their mobile assets. The Product Link PL102C will use the MicroBurst® cellular network developed by Aeris.net. MicroBurst employs existing networks' infrastructure as its transmission medium.
General contractors, leasing companies and insurers throughout the construction industry are eager to combat thefts and misuse of heavy equipment. The Product Link PL102C will offer them a cost-effective and accurate means of monitoring the location, movement and status of their heavy construction and earth-moving equipment.
Although most car owners realize within a few hours that their vehicles have been stolen, a construction equipment theft on Friday night often isn't discovered until Monday morning - when workers return to the job site. Thefts of equipment at remote sites might not be discovered for weeks or months, giving thieves ample time to cover their tracks. Asset-Link eliminates this costly time lag and enables users to respond quickly to thefts.
The core technology of the Product Link PL102C will be CSI Wireless' Asset-LinkT 100 asset-tracking system, which combines CSI's proven wireless and GPS technology.
"We're delighted to announce this strategic relationship with Caterpillar, a Fortune 100 corporation, and one of the world's largest construction equipment manufacturers," said Stephen Verhoeff, CSI Wireless' President and CEO. "CSI is meeting the fleet-tracking needs of many businesses - including trucking companies, car rental companies and construction firms. This agreement highlights the growing variety of applications and demand for our Asset-Link product family. It's a very affordable solution for remotely tracking and monitoring mobile assets."
CSI developed the Asset-Link product family - including the Asset-Link 100, Asset-Link 200, FLT-Link and Asset-Link 400 - for use with the Aeris.net's MicroBurst® cellular network to provide consistent, seamless data transmission coverage and asset-tracking throughout North America.
Customers equipped with the Asset-Link 100 can track vehicles' movements; monitor their performance (including engine hours, engine temperature and oil pressure); log and analyze vehicles' performance data including temperature trends; remotely perform security functions such as door locking/unlocking, engine start/stop, and establishing "geo-fences" (containing vehicles inside specified geographic areas); and employ potential life-saving automatic safety features including crash notification, airbag deployment notification and emergency dispatch.
The Asset-Link 200 has the same features and capabilities as the Asset-Link 100, while also offering Circuit Switched analog or Advanced Mobile Phone Services (AMPS) capability so operators can transfer large amounts of vehicle history data, and also perform over-the-air maintenance to in-vehicle hardware without returning the vehicle to the shop or sending out maintenance staff.
The FLT-Link is a tracking and reporting product specifically for tractor trailers, containers, rail cars and similar mobile assets and cargo. One version functions using the truck's power system, with a back-up two-month power source, while another version is solar-powered to continue generating data no matter how long the trailer is disconnected from the truck.
The Asset-LinkT 400 uses GSM (Global System for Mobile communications) technology. GSM, in addition to being increasingly popular in North America, is the dominant cellular technology in more than 170 countries. CSI offers three versions of the Asset-Link 400 - GSM-only, GSM-analog, and GSM-GPRS (General Packet Radio Service, which features high band width). Together, they can serve a potential market of more than one billion GSM customers, with coverage over a larger geographic area than other telematics product can.
With offices in Calgary, Silicon Valley, and Phoenix, CSI Wireless designs and manufactures innovative, cost-effective, wireless and GPS products for mobile and fixed applications in the agriculture, marine, automotive and other markets. CSI is a leader in several emerging high-growth markets including Precision Guidance in Agriculture, Consumer Telematics and Fixed Wireless Telephones. The Company owns numerous patents and intellectual property relating to wireless and GPS technologies. It has licensed its cellular technology to GPS, cellular handset, and chipset manufacturers. The company's common shares trade on The Toronto Stock Exchange under the trading symbol "CSY", with approximately 33 million outstanding. For more information about CSI Wireless, go to http://www.csi-wireless.com.
The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond CSI Wireless's control, including: the impact of general economic conditions, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to the announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. CSI Wireless's actual results, performance or achievement could differ materially from those expressed in, or implied by these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceed, that CSI Wireless will derive therefrom.
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