December 3, 2003
WEMACS contract finalized
Hackensack, N.J., based I.D. Systems, Inc. (Nasdaq: IDSY) has finalized a contract with the Advanced Technology Institute (ATI), contracts administrator of the National Shipbuilding Research Program Advanced Shipbuilding Enterprise (NSRP ASE).
I.D. Systems' "Wireless Equipment Monitoring and Control System (WEMACS)" was one of seven projects selected for award this year by the NSRP ASE. The final contract calls for I.D. Systems to develop, integrate, and implement advanced material handling equipment monitoring systems for the U.S. shipyard environment. Under the terms of the one-year contract, I.D. Systems expects to realize approximately $1.1 million in revenue.
The I.D. Systems-led project team includes three shipyards that expect to deploy the WEMACS system: Northrop Grumman Corporation's Ship Systems sector in Pascagoula, Mississippi, National Steel and Shipbuilding Company (NASSCO) and the U.S. Navy's Portsmouth Naval Shipyard in Kittery, Maine.
The WEMACS project is intended to expand on I.D. Systems' existing baseline wireless system installation at Portsmouth Naval Shipyard. It will further research and develop a comprehensive solution for the extensive monitoring, control, and utilization analysis of shipyard material handling equipment (forklifts, straddle trucks, cranes, and similar vehicles).
The resultant system will be designed to monitor equipment location, electronically restrict access to qualified operators, analyze equipment usage, enable wireless transmission of work orders, and monitor certain vital equipment functions. Benefits are expected to include reduction of fleet maintenance costs, improved reliability and availability of equipment, enhanced equipment safety and security, and remote monitoring of machinery health functions.
The project team also includes RLW, Inc., a developer of condition based maintenance technologies, and the Applied Research Laboratory at the Pennsylvania State University. Under the terms of the contract, the team will promote and make every effort to deploy WEMACS technology to all other shipyards throughout the United States.
"We are very pleased to finalize the contractual arrangements under this NSRP ASE program, and we are already forging ahead toward the first project milestones," said Rick Muntz, I.D. Systems' executive vice president of sales, marketing, and customer satisfaction. "We look forward to continuing our work with this great team to help the WEMACS system develop into a valuable tool for the entire American shipbuilding industry."