CANTON, Mass. and IRVINE, Calif., Nov. 1, 2016 /PRNewswire/ --LoJack, a
wholly-owned subsidiary of CalAmp (NASDAQ: CAMP) and a leader
in vehicle and construction equipment theft recovery and advanced
fleet management solutions, announced today that law enforcement
officials throughout the United
States recovered more than $6.6 million in stolen
construction equipment and machinery equipped with the
LoJack® System for Construction & Commercial
Vehicles and Equipment in 2015 (LoJack System).
LoJack's "2015 Construction Equipment Theft Recovery Report"
and infographic highlights the ongoing problem of thieves
targeting construction businesses for their high value
equipment. The report identifies equipment categories and
classes, manufacturers, and geographies where theft is most likely
to occur. Heavy equipment is the most vital asset of construction
businesses. Contractors and rental fleet owners not only lose
valuable assets, but also lose efficiency and miss schedule
deadlines when equipment is stolen. The cost of equipment
theft can be devastating to the national economy generally, as well
as to the profitability of small and large businesses alike.
The 2015 LoJack Construction Equipment Theft Recovery Report
revealed the following:
- In 2015, over $6.6 million* worth
of assets were recovered on construction equipment installed with
the LoJack System. Replacing those assets, if not recovered,
would have cost their owners approximately $11 million.*
- Since the study began, more than $180
million** worth of stolen heavy equipment has been recovered
using the LoJack System.
- The top equipment types recovered in 2015 were also those most
popular on the jobsite:
- Towables (33%) - generators, air compressors, cement mixers,
and welders
- Wheeled and Tracked Loaders (28%) – used to shovel or move
material around
- Skid Loaders (20%) - specialty vehicles with a range of powered
attachments
- Excavators (7%) - used to dig and move large materials
- Utility Task Vehicles (6%) - used in residential markets as
well as construction
- The following were the top five most stolen and recovered
LoJack system-equipped construction equipment manufacturers in
2015:
1.
Bobcat (25%)
2. John Deere (15%)
3. Multiquip (6%)
4. Caterpillar (6%)
5. CASE (6%)
- In 2015, 64% of the equipment stolen was less than five years
old
- In 97% of theft and recovery cases, equipment was retrieved in
the same state
A 2014 National Insurance Crime Bureau (NICB) report indicated
that up to $1 billion is lost
nationwide due to construction equipment theft and only 20% of it
is ever recovered by law enforcement. Construction equipment
thieves are increasingly part of large, organized crime rings that
target high value equipment. Unlike vehicle identification numbers
(VIN), construction equipment does not have standardization in
production identification numbers (PIN), which makes the assets
more difficult to track and recover by law enforcement.
"Construction sites have been popping up all over the U.S. as
part of the economic recovery, making the theft of construction
equipment a very lucrative market for thieves. The increased
exposure of equipment opens up vulnerability to theft," said
Courtney DeMilio, National Vice
President of Commercial and Fleet for LoJack. "Because construction
projects create jobs, the cost of unrecovered stolen equipment
extends far beyond the equipment itself and potentially affects the
lives of construction workers. LoJack is dedicated to partnering
with law enforcement and the construction industry to recover
stolen construction equipment in a timely manner to reduce
operational downtime and minimize the impact of stolen
equipment."
For more details on these statistics and recovery stories
included in the 2015 LoJack Construction Equipment Theft Recovery
Report, please visit
www.lojack.com, www.autotheftblog.com, www.youtube.com/lojack,
www.twitter.com/LoJackCorp or www.Facebook.com/LoJackCorp.
About the Report
The 2015 LoJack Construction
Equipment Theft Recovery Report is gathered from LoJack's
proprietary theft and recovery data and EDA, a division of
Randall-Reilly. The report data is specific to stolen
construction equipment and machinery outfitted with the LoJack
System for Construction & Commercial Vehicles and Equipment
that were recovered from January to December
2015.
*2015 LoJack proprietary theft and recovery data with value of
assets determined from information obtained from
EquipmentTracker.com, MachineryTracker.com and National Automobile
Dealers Association (NADA).
**LoJack proprietary theft and recovery data with value of total
assets determined from information obtained from
EquipmentTracker.com, MachineryTracker.com and National Automobile
Dealers Association (NADA) from year to year since 2000.
About CalAmp
LoJack Corporation is a wholly owned
subsidiary of CalAmp. CalAmp (NASDAQ: CAMP) is a pure-play
pioneer in the connected vehicle and broader Industrial Internet of
Things marketplace. The Company's extensive portfolio of
intelligent communications devices, robust and scalable telematics
cloud services, and targeted software applications streamline
otherwise complex Machine-to-Machine (M2M) deployments. These
solutions enable customers to optimize their operations by
collecting, monitoring and efficiently reporting business-critical
data and desired intelligence from high-value mobile and remote
assets. CalAmp is headquartered in Irvine, California and has been publicly
traded since 1983. For more information, please visit
www.calamp.com.
CalAmp, its arc logo, LoJack and the LoJack logo are among
the trademarks of CalAmp and/or its affiliates in the United States, certain other countries
and/or the EU. Any other trademarks or trade names mentioned are
the property of their respective owners.
AT
CALAMP: NMN
ADVISORS:
Nadine
Traboulsi Nicole
Noutsios
Vice President, Corporate
Marketing Investor
Relations
(949)
600-5642 (510)
315-1003
ntraboulsi@calamp.com nicole@nmnadvisors.com
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SOURCE LoJack Corporation