ORBCOMM Announces Contract Extension With Volvo
ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data telecommunications company, today announced that Volvo has signed an International Value-Added Reseller agreement with ORBCOMM and is using ORBCOMM for data communications services on Volvo Trucks North America’s Volvo Link Sentry truck product and on Volvo Construction Equipment’s CareTrack system.
Volvo Trucks North America has made Volvo Link Sentry standard for Volvo trucks with 2007 engines. Volvo Link Sentry is an onboard vehicle monitoring and communications system that helps fleet managers improve operational efficiency by monitoring truck usage. The system tracks and communicates key productivity and performance information each week, which can be accessed by fleet managers online for a “fleet at a glance” view of operations or for a detailed examination of individual vehicle operation and performance. Additionally, drivers will have increased security and support available while on the road through the combination of Volvo Link Sentry’s monitoring capabilities and the support of Volvo Action Service (VAS), Volvo’s 24/7 roadside assistance program.
Earlier this year, Volvo Construction Equipment launched an updated version of its CareTrack remote machine monitoring system, which now offers satellite data communications and expanded functionality that further increases an operator’s ability to monitor and control its equipment in the field. Now available in both Basic and Advanced formats, CareTrack provides a wide range of information about how and where machines are being used. Working with the machine’s own diagnostic system, operating and location data is transmitted from the machine and is processed in a central database for users to remotely “see” their machine’s current and historical operating data through a secure website.
“We are delighted with Volvo’s continued relationship with ORBCOMM as it continues to expand its use of our global machine-to-machine satellite data network for innovative services into new product lines, starting with trucks and now on heavy equipment,” said Jerome B. Eisenberg, Chief Executive Officer of ORBCOMM. “The systems developed by Volvo take advantage of ORBCOMM’s global two-way data communications capability, giving its customers several advantages, such as increased safety, higher productivity, greater availability and better control of their assets.”
About ORBCOMM
ORBCOMM is a leading global satellite data communications company, focused exclusively on Machine-to-Machine (M2M) communications. Its customers include General Electric, Caterpillar Inc., Volvo Group and Komatsu Ltd. among other industry leaders. By means of a global network of 29 low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The company’s products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a Network Control Center in Dulles, Virginia. For more information, visit www.orbcomm.com.
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future operations and are based upon management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Our actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the substantial losses we have incurred and expect to continue to incur; demand for and market acceptance of our products and services and the applications developed by our resellers; technological changes; pricing pressures and other competitive factors; the inability of our international resellers to develop markets outside the United States; satellite launch failures, satellite launch and construction delays and cost overruns and in-orbit satellite failures or reduced performance; the failure of our system or reductions in levels of service due to technological malfunctions or deficiencies or other events; our inability to renew or expand our satellite constellation; financial market conditions and the results of financing efforts; political, legal regulatory, governmental, administrative and economic conditions and developments in the United States and other countries and territories in which we operate; changes in our business strategy; and the other risks described in our filings with the Securities and Exchange Commission. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.