ROCHELLE PARK, N.J.--(BUSINESS WIRE)--ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, today announced that it has been selected by the China International Marine Container Company’s (CIMC) Intelligent Technology Division to provide next generation OG2 satellite service and modem technology for their dual-mode telematics solution being developed as an Original Equipment Manufacturer (OEM) product designed for dry shipping containers.
Headquartered in Shenzhen, China, CIMC is the world’s leading supplier of logistics and energy equipment. CIMC builds nearly fifty percent of the world’s shipping containers with the capacity of more than 2.4 million annual units. Their satellite-based telematics platform can be installed as a factory option or retrofit for its global customers, which include some of the world’s largest shipping fleets and container leasing companies. By leveraging ORBCOMM’s satellite connectivity and modem technology, CIMC’s telematics solution will track and monitor its shipping containers in real time, which will improve the information flow throughout the intermodal supply chain. By utilizing CIMC’s solution, its customers will gain greater visibility to their loads and valuable business intelligence, resulting in improved equipment utilization, security and operational efficiency.
“Being chosen by a market leader like CIMC is a validation of our products and services, further solidifying ORBCOMM as the leader in the intermodal telematics industry,” says Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “We look forward to working with CIMC to provide our expertise and support to enable them to deploy a best-in-class connected container platform.”
“We are pleased to join forces with ORBCOMM to launch a factory-installed telematics solution for our large customer base worldwide. CIMC has worked closely with ORBCOMM to integrate their satellite modem technology into our product,” said Dr. Shouqin Zhou, the General Manager of CIMC’s Intelligent Technology Division. “By delivering a ‘smart container’ solution to the intermodal industry, our customers can seamlessly track and monitor their assets over the sea, rail and road from their origin to their final destination using ORBCOMM’s ubiquitous OG2 satellite network.”
CIMC will begin their field trials for their OEM telematics solution in the first quarter of 2016.
About ORBCOMM Inc.
ORBCOMM Inc. (Nasdaq: ORBC) is a leading global provider of Machine-to-Machine (M2M) communication solutions and the only commercial satellite network dedicated to M2M. ORBCOMM’s unique combination of global satellite, cellular and dual-mode network connectivity, hardware, web reporting applications and software is the M2M industry’s most complete service offering. Our solutions are designed to remotely track, monitor, and control fixed and mobile assets in core vertical markets including transportation & distribution, heavy equipment, industrial fixed assets, oil & gas, maritime, mining and government.
With nearly 20 years of innovation and expertise in M2M, ORBCOMM has more than 1.3 million subscribers with a diverse customer base including premier OEMs such as Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery Co., Ltd., John Deere, Komatsu Ltd., and Volvo Construction Equipment, as well as end-to-end solutions customers such as C&S Wholesale, Canadian National Railways, CR England, Hub Group, KLLM Transport Services, Marten Transport, Swift Transportation, Target, Tropicana, Tyson Foods, Walmart and Werner Enterprises. For more information, visit www.orbcomm.com.
Forward-Looking Statements
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 events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2014, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.