ROCHELLE PARK, N.J.–(BUSINESS WIRE)–ORBCOMM Inc. (Nasdaq:ORBC), a global provider of Machine-to-Machine (M2M) solutions, today announced a multi-year agreement with Hub Group, Inc. (Hub Group) (Nasdaq:HUBG) to deploy ORBCOMM’s GT 2300 state-of-the-art intermodal container tracking and monitoring platform. This agreement reinforces ORBCOMM’s position as the leader in intermodal container tracking solutions featuring GPRS or satellite communication as stated in Berg Insight’s May 2013 Container Tracking and Security Report.
“This long-term agreement with ORBCOMM demonstrates our shared commitment to technology, innovation and leadership. This engagement demonstrates our confidence in ORBCOMM’s expertise in developing premier, end-to-end telematics systems”
A leading provider of comprehensive intermodal, truck brokerage and logistics services throughout North America, Hub Group evaluated several providers and selected ORBCOMM to develop this telematics solution. Hub Group will integrate ORBCOMM’s GT 2300 solution to more accurately identify loading and unloading events, which should reduce container idle time and increase customer satisfaction. Hub Group anticipates ORBCOMM’s advanced GT 2300 platform will improve the information flow across the multiple touch points between its intermodal/drayage and back-office operations, providing customers with greater visibility to their loads. In addition, this solution further differentiates Hub Group in the market by improving the timeliness of pick-up and delivery information, which is expected to lead to improved equipment utilization.
ORBCOMM’s GT 2300 is the first device of its kind to use customizable reporting profiles to optimize critical data delivery and power management for extended battery life. This unique device is also designed to fit internally within the container corrugations to avoid damage during cargo loading, unloading and movement. ORBCOMM’s powerful systems solution combines position, load stage, door events, and cargo status to provide efficient delivery of vital asset information where and when customers need it.
“We are pleased to have been selected as Hub Group’s telematics solution provider,” said Marc Eisenberg, Chief Executive Officer of ORBCOMM. “Hub Group’s selection of the GT 2300 demonstrates the utility of ORBCOMM solutions in the intermodal marketplace as we help drive this industry to higher levels of performance.”
“This long-term agreement with ORBCOMM demonstrates our shared commitment to technology, innovation and leadership. This engagement demonstrates our confidence in ORBCOMM’s expertise in developing premier, end-to-end telematics systems,” said Chris Kravas, Chief Intermodal Officer at Hub Group. “ORBCOMM’s solution will play a significant role in improving shipment visibility and enhancing service to our customers.”
Hub Group will begin deployment of the ORBCOMM system in the first quarter of 2014.
About ORBCOMM Inc.
ORBCOMM is a global provider of Machine-to-Machine (M2M) solutions. Its customers include Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery, Hyundai Heavy Industries, I.D. Systems, Inc., Komatsu Ltd., Cartrack (Pty.) Ltd., and Volvo Construction Equipment, among other industry leaders. By means of a global network of low-earth orbit (LEO) satellites and accompanying ground infrastructure as well as our Tier One cellular partners, ORBCOMM’s low-cost and reliable two-way data communication services track, monitor and control mobile and fixed assets in our core markets: commercial transportation; heavy equipment; industrial fixed assets; marine; and homeland security.
ORBCOMM is an innovator and leading provider of tracking, monitoring and control services for the transportation market. Under its ReeferTrak®, GenTrakTM, GlobalTrak®, and CargoWatch® brands, the company provides customers with the ability to proactively monitor, manage and remotely control their cold chain and dry transport assets. Additionally, ORBCOMM provides Automatic Identification System (AIS) data services for vessel tracking and to improve maritime safety to government and commercial customers worldwide. ORBCOMM is headquartered in Rochelle Park, New Jersey and has its network control center in Dulles, Virginia. For more information, visit www.orbcomm.com.
About Hub Group, Inc.
Hub Group, Inc. is a leading asset-light freight transportation management company providing comprehensive intermodal, truck brokerage and logistics services. The Company operates through a network of offices and independent agents throughout the United States, Canada and Mexico.
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, 2012, 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.
Contacts
Investor Inquiries:
ORBCOMM Inc.
Robert Costantini, 703-433-6305
Chief Financial Officer
costantini.robert@orbcomm.com
clb@abmac.com
or
Financial Media:
The Abernathy MacGregor Group
Chuck Burgess, 212-371-5999
President
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