John Carlson, Exec VP & CFO
Tom Robinson, Exec VP, StarTrak
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John Nesbett / Jennifer Belodeau
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Alanco's StarTrak Announces New ReeferTrak(R) Mariner for Global Refrigeration Monitoring and Control
- Target Market - 800,000 Refrigerated Containers Worldwide
- StarTrak also Announces Issuance of Two Significant U.S. Patents
(Scottsdale, AZ – November 29, 2010) – Alanco Technologies, Inc. (NASDAQ: ALAN), today announced that its wholly owned subsidiary StarTrak Systems, the leading provider of wireless GPS tracking, monitoring, and two-way control systems for the refrigerated transport industry, launched its new ReeferTrak® Mariner system to address the rapidly expanding demand for worldwide tracking, monitoring and control of refrigerated containers. The new solution is targeted at approximately 800,000 refrigerated containers world-wide, used in the delivery of temperature controlled goods.
ReeferTrak® Mariner delivers end-to-end visibility for reefer container shipments worldwide, monitoring shipment location and condition in all stages of the container shipping cycle – vessel, shore and land transportation. The new ReeferTrak® Mariner system also provides a direct interface to reefer microprocessors (including Carrier, Daikin, Thermo King and Star Cool) via the Remote Monitoring Modem (RMM), similar to StarTrak’s extensive land-based offerings.
Monitoring and two-way control coverage is world-wide and includes tri-mode digital cellular communications that permit seamless operations in every major country as well as a WIFI system, permitting coverage and control during vessel transport. The service is Electronic Data Interchange (EDI) compliant, enabling integration with a customer’s existing shipment, booking and bill of lading systems. The new ReeferTrak® Mariner system already has been deployed with several customers, whose roll-outs are in the planning stage.
“ReeferTrak® Mariner sets the standard for comprehensive management of reefer containers worldwide,” said Tom Robinson, Executive Vice President of StarTrak. “Container shipping companies may use the service to better manage containers in shore facilities, to reduce labor costs, improve container utilization, lower fuel costs, improve shipment temperature quality and to give their customers assurance of temperature compliance from origin to destination. All of these factors together lead to a strong ROI for the service with a vast improvement in shipment quality and predictability.”
Key to the success of the service is the advanced methodology StarTrak employs to allow customers to see and understand the global status of their shipments during land transport, vessel transport or while held in shore facilities. ReeferTrak® automatically provides for transitions between these shipment cycles, permitting container companies to allocate responsibility for each shipment based on its local condition. This approach leads to vast savings in operational efficiency and quality.
StarTrak also announced the issuance of two United States patents, which govern the shipment of refrigerated containers during the land transport portion of the shipment and during the transition into port facilities. The Company expects that these patents will limit the deployment of competitive worldwide reefer monitoring systems since competitive offerings cannot provide visibility while containers are in the United States undergoing transport or while they reside in shore locations. StarTrak has applied for international applications in numerous countries for one of the patents and expects licensing to become a contributor to the company’s results in 2011.
“Through its core business of monitoring refrigerated trailers, trucks, and railcars, StarTrak has developed the experience, technology, and infrastructure integral to the development of ReeferTrak® Mariner and we believe we are the first company to launch a comprehensive global coverage offering for refrigerated containers,” said Tim Slifkin, Founder and Chief Technology Officer. “ReeferTrak® Mariner provides customers with the world-wide, end-to-end visibility that they seek in a container service and we look forward to the rollout of this state-of-the-art product.”
StarTrak is providing this release coincident with its participation at INTERMODAL EUROPE 2010 in Amsterdam, November 30 through December 2, 2010, Booth C26.
Alanco Technologies, Inc. provides wireless monitoring and asset management solutions through its StarTrak Systems subsidiary. StarTrak Systems is the dominant provider of tracking, monitoring and control services to the refrigerated or “Reefer” segment of the transportation marketplace, enabling customers to increase efficiency and reduce costs of the refrigerated supply chain. For more information, visit the Alanco website at www.alanco.com or StarTrak Systems at www.startrak.com.
EXCEPT FOR HISTORICAL INFORMATION, THE STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL SUCH FORWARD-LOOKING STATEMENTS ARE SUBJECT TO, AND ARE QUALIFIED BY, RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THOSE STATEMENTS. THESE RISKS AND UNCERTAINTIES INCLUDE, BUT ARE NOT LIMITED TO, REDUCED DEMAND FOR INFORMATION TECHNOLOGY EQUIPMENT; COMPETITIVE PRICING AND DIFFICULTY MANAGING PRODUCT COSTS; DEVELOPMENT OF NEW TECHNOLOGIES THAT MAKE THE COMPANY’S PRODUCTS OBSOLETE; RAPID INDUSTRY CHANGES; FAILURE OF AN ACQUIRED BUSINESS TO FURTHER THE COMPANY’S STRATEGIES; THE ABILITY TO MAINTAIN SATISFACTORY RELATIONSHIPS WITH LENDERS AND REMAIN IN COMPLIANCE WITH FINANCIAL LOAN COVENANTS AND OTHER REQUIREMENTS UNDER CURRENT BANKING AGREEMENTS; AND THE ABILITY TO SECURE AND MAINTAIN KEY CONTRACTS AND RELATIONSHIPS.
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