HACKENSACK, N.J., PRNewswire-FirstCall/ -- I.D. Systems, Inc. (Nasdaq: IDSY) announced today that, after competitive review, its "Wireless Equipment Monitoring and Control System (WEMACS)" project has been selected for award by the National Shipbuilding Research Program Advanced Shipbuilding Enterprise (NSRP ASE). WEMACS was one of only seven new research projects selected as part of a Navy/industry co-funded portfolio specifically designed to save taxpayers money in Navy shipbuilding and ship repair. The specific scope and terms of the WEMACS project will be determined in contract negotiations over the next 45 days.
Participants in the I.D. Systems-led WEMACS project team include Northrop Grumman Corporation's (NYSE: NOC) Ship Systems sector, National Steel and Shipbuilding Company (NASSCO), a subsidiary of General Dynamics Corporation (NYSE: GD), the U.S. Navy's Portsmouth Naval Shipyard, RLW, Inc., and the Applied Research Laboratory at The Pennsylvania State University.
The WEMACS project exploits I.D. Systems' ongoing baseline wireless system installation at Portsmouth Naval Shipyard to 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.
"We are extremely gratified that the NSRP, which represents the nation's leading shipyards and is funded by both the U.S. Navy and industry, has selected the WEMACS project for award," said Jeffrey Jagid, I.D. Systems' chairman and chief executive officer. "We have put together a great team on this project -- Northrop Grumman Ship Systems, NASSCO, the Portsmouth Naval Shipyard, RLW, Inc., and the Applied Research Lab at Penn State -- and we look forward to negotiating a definitive agreement with NSRP on the exact scope and funding for the project."
NSRP is a collaboration of 11 U.S. shipyards working with government, industry, and academia to achieve the continuous product and process improvements necessary for the U.S. shipbuilding industry to become internationally competitive, directly resulting in more affordable Navy ships. NSRP is sponsored by the U.S. Navy. For more information on NSRP, visit http://www.nsrp.org.
Based in Hackensack, New Jersey, I.D. Systems, Inc. is a leading provider of wireless solutions for corporate asset management. For more information on I.D. Systems, Inc., visit www.id-systems.com.
