Qualcomm Incorporated (NASDAQ: QCOM) announced that Reading, Pa.-based Penske Logistics has agreed to purchasean additional 3,000 OmniTRACS® satellite mobile communications systems by the end of calendar year 1998. This purchase will increase the total number of units in Penske's fleet to over 4,600.
Penske Logistics provides integrated logistics services to customers throughout the United States, Mexico and Canada. "We selected Qualcomm's technology because of its robust messaging capabilities, reliable real-time tracking and its ability to seamlessly integrate with our overall technology initiatives," stated Mark Skoda, executive vice president for Penske Logistics. "We intend to link this technology to our suite of supply chain management services to provide in-transit inventory information which will provide our clients with improved visibility of their order detail and operating statistics on a daily basis."
"Our vision is to ensure end-to-end control of our clients' product," continued Skoda. "The OmniTRACS system will allow Penske, together with our clients, to provide superior customer service and unprecedented access to the supply chain. We believe that with Qualcomm's satellite communications technology, Penske and its clients will enjoy leading-edge solutions and continued competitive advantages."
"This is a significant announcement for Qualcomm," stated Phil White, senior vice president and general manager of Qualcomm's OmniTRACS division. "It is notable not only because Penske nearly tripled its current unit commitment, but because it clearly displays our ability to reach beyond the truckload arena and enter into the field of effective logistics management. We are pleased that Penske recognizes that the OmniTRACS system plays a valuable role in its dedicated service offering by ensuring total control of its customers products."
With over 230,000 OmniTRACS units sold worldwide, Qualcomm is the leader in providing mobile communications and information management systems to the transportation industry. Qualcomm currently has systems operating in the United States, Canada, Europe, Brazil, Mexico, Japan, Korea and Malaysia.
Headquartered in San Diego, Qualcomm develops, manufactures, markets, licenses and operates advanced communications systems and products based on its proprietary digital wireless technologies. The Company's primary product areas are the OmniTRACS products, CDMA wireless communications systems and products and, in conjunction with others, the development of the Globalstar™ low-earth-orbit (LEO) satellite communications system. Other Company products include the Eudora Pro® electronic mail software, ASIC products, and communications equipment and systems for government and commercial customers worldwide. For more information on Qualcomm products and technologies, please visit the Company's web site at http://www.qualcomm.com/.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including timely product development, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 28, 1997 and most recent Form 10-Q.
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