Alanco’s StarTrak Systems Announces Landmark Multi-Year Contract with FFE Transportation Services, Inc.
October 05 2009 - 9:00AM
Business Wire
Alanco Technologies, Inc. (NASDAQ: ALAN),
announced today that its StarTrak Systems subsidiary, the leading
provider of wireless monitoring and management data services for
the refrigerated transportation industry, has entered into a
four-year contract valued in excess of $3 million with FFE
Transportation Services, Inc. (NASDAQ: FFEX), a premier provider of
refrigerated transportation and logistics services, for fleetwide
deployment of StarTrak's ReeferTrak® reefer monitoring and
management services. The new contract will commence immediately to
outfit approximately 2,500 of FFE’s refrigerated trailers with
StarTrak’s new ReeferTrak RT-6000 communicator/modem. StarTrak will
also provide FFE with its extensive menu of unique reefer network
management and control data services over an initial four-year
period.
FFE primarily chose the ReeferTrak service due to the platform’s
automatic delivery of critical information to FFE central
operations, including real time temperature profiles against cargo
set points, refueling verification, assessorial measurements, out
of route monitoring, critical load information, trailer inventory
management and other relevant operational data.
StarTrak and FFE first partnered in 2005 to pioneer the
management of highly sensitive refrigerated specialty product
freight shipments with FFE initially implementing StarTrak's
satellite-based communicating network system. The new fleet-wide
ReeferTrak deployment will be an advanced cellular-based solution
that provides vastly increased benefits and unprecedented
flexibility. FFE has strived to extend the focus of their
operations from the management of the driver to the management of
the shipment, which objective will be significantly enhanced
through this new investment in advanced technology.
“Our long-term relationship with StarTrak was founded on our
commitment to best-in-practice technology innovation and leadership
in refrigerated transport,” said Mit Stubbs, President and Chief
Executive Officer of FFE. “Our fleet-wide adoption of ReeferTrak
further illustrates our mutual desire to continue to improve
refrigerated freight solutions for the transportation and logistics
industry. Our goal as always is to deliver the best service in the
industry to our customers.”
Nick Cook, Vice President and Chief Information Officer of FFE,
added, “After extensive research, we feel that StarTrak provided
the most comprehensive package to accommodate our diverse service
offering and provide our customers with the highest level of
service. Our customers will benefit greatly from the additional
visibility that StarTrak will provide.”
Tom Robinson, Executive Vice President of StarTrak, commented,
“We are excited to partner with FFE to help transform the manner in
which refrigerated freight is controlled and managed, attaining the
highest level of customer service and visibility. FFE's selection
of ReeferTrak for its fleet demonstrates its confidence in StarTrak
solutions, and both companies' desire to continue to collaborate on
advanced monitoring technology and solutions.”
For more about ReeferTrak visit: www.startrak.com
About FFE Transportation
Services, Inc.
Frozen Food Express Industries, Inc. is one of the leading
temperature-controlled truckload and less-than-truckload carriers
in the United States with core operations in the transport of
temperature-controlled products and perishable goods including
food, health care and confectionery products. Service is offered in
over-the-road and intermodal modes for temperature-controlled
truckload and less-than-truckload, as well as dry truckload. We
also provide brokerage/logistics services, as well as dedicated
fleets to our customers. Additional information about Frozen Food
Express Industries, Inc. can be found at http://www.ffex.net. FFE’s
common stock is traded on the Nasdaq Global Select market under the
symbol FFEX.
Alanco Technologies, Inc. provides wireless tracking and
asset management solutions through its StarTrak Systems and
Alanco/TSI PRISM subsidiaries. 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. Alanco/TSI PRISM is the leading provider
of RFID real-time tracking technologies for the corrections
industry. Its systems track and record the location and movement of
inmates and officers, enhancing safety, security and productivity.
For more information, visit the company’s website at
www.alanco.com.
EXCEPT FOR HISTORICAL INFORMATION, THE STATEMENTS CONTAINED IN
THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO
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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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