FSC / Press Release
BSM Announces 200 Units, $900,000 Order From ATG for Fortune 500 Client
Mississauga, Ontario CANADA, September 19, 2006 /FSC/ - BSM Technologies Inc. (GPS - TSX Venture), (http://www.bsmtechnologies.com a leading provider of high security vehicle tracking and surveillance solutions today announced receipt of a large order from the Automotive Technology Group (ATG) for a Fortune 500 company providing leading-edge transportation, logistics and supply chain management solutions worldwide. For security reasons, the identity of the Unnamed Fortune 500 Company ("UNF500") will remain confidential.
FORTUNE 500 COMPANY UTILIZES BSM's SENTINELAV SOLUTION TO TRANSPORT SENSITIVE CARGO OF MAJOR CLIENT, PREVENT AND REDUCE CARGO THEFT
The UNF500 will be specifically utilizing BSM's SentinelAV to transport highly sensitive cargo of a major client that has also requested anonymity. To accomplish this, the UNF500 has equipped 200 plus units of their cargo carrying transport fleet with BSM's "SentinelAV" monitoring and security solution. The total contract value is approximately $ 900,000. The services portion is valued at approximately $711,000 over the next 5 years. The contract can be cancelled after the first year at the option of the customer.
BSM AWARDED CONTRACT FOLLOWING STRINGENT PEER GROUP DUE DILIGENCE
BSM initially received the order for the 200 plus High Security SentinelAV Units from ATG in March 2006. However, the purchase was conditional on ATG performing a due diligence study on behalf of their client on competing companies that provide secure fleet management, significant market experience and high levels of confidentiality during the installation and post implementation process. "After significant testing of the SentinelAV solution, there was a very quick ramp-up and implementation plan put into place to meet the needs of the client." Said Michael Bookbinder, Director of Sales at BSM Wireless.
ATG and their clients provided stringent security solutions and testing criteria to conclusively determine that the BSM solution would meet their needs. BSM met and surpassed the testing criteria in a large part due to BSM's armoured car capabilities, especially its success with previously announced a $2 million USD contract with Bantek Armored Services in the United States. "This is a major pronouncement of BSM's ability to provide unique solutions in the market for many vertical market challenges," continued Bookbinder.
"Automotive Technology Group (ATG) is a leading integration and solutions provider for the automotive industry and we leveraged BSM Technologies background in the high end GPS and security market to come up with a solution for their Fortune 500 company client," said Paul Zlatar, Senior Director of Operations of ATG.
Paul Zlatar also noted that, "BSM's Bait car program and experience in developing a sophisticated armored car solution made them the place to go to meet and exceed the criteria, with the agility to customize and install within very strict guidelines and time constraints. The ease of integration of BSM's technology to a special security suite of products went smoothly and after a short pilot ATG placed their first order for a significant dollar amount."
Commenting on the order, Michael Bookbinder stated, "From a sales and marketing point of view, there is no greater validation of our strengths and ability to meet the needs of the marketplace with quality products, services and support. We were asked to deliver a tracking and security system that allowed the UNF500 client to continuously monitor the location and security status of every vehicle in their fleet and this order serves as proof positive that we accomplished that task better than any other company in this space. The BSM solution is incomparable for ensuring the security of customer cargo, delivery of the cargo and safety of the drivers."
This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/bsm alternatively, investors are asked to e-mail all questions and correspondence to GPS@agoracom.com where they can also request addition to the BSM Technologies investor e-mail list to receive all future press releases and updates directly.
About BSM Technologies (GPS: TSX-V) (http://www.bsmtechnologies.com)
BSM Technologies designs, manufactures and markets a comprehensive line of AVSL (Automatic Vehicle Security and Tracking) solutions for Fleet Management, Law Enforcement, and Consumer Vehicle Protection, through its subsidiary BSM Wireless. The BSM line of products range from Fleet Management and Consumer Vehicle Protection offerings to the full featured "Stinger" product featured in news media worldwide as the key technology behind the Bait and Covert application used by hundreds of Law Enforcement agencies to deter vehicular, trailer and heavy equipment theft.
Superior functionality, seamless switching between 2 separate footprints, enhanced reliability, advanced security features, and excellent value characterize BSM products. By incorporating advanced wireless locating and mapping technology, and IP-based communications protocols, the BSM line of products provides sophisticated real-time monitoring and control of commercial and personal vehicle assets to meet the demanding needs and stringent requirements of today's mobile environments. BSM's unique end-to-end solutions feature sophisticated wireless hardware, firmware and software all developed by and proprietary to BSM. The BSM product line can be easily adapted and customized to match any customer user requirement while BSM's in-house support infrastructure assures that all clients receive the premium AVSL solution in the industry to meet their needs.
Company Contact
Mr. Nick Cirella
President & CEO
BSM Technologies Inc.
1-(905) 265-1200
nickcirella@bsmwireless.com
www.bsmwireless.com
Retail Investor Inquiries
AGORACOM Investor Relations
http://www.agoracom.com/IR/BSM
GPS@agoracom.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release may include certain "forward-looking statements" that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the company's business prospects may be materially different from forward-looking statements made by the company
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