SAN DIEGO -- November 12, 2002 -- Qualcomm Incorporated (Nasdaq: QCOM), the leader in mobile communications for the transportation industry, today announced that Cramo AB has joined Qualcomm's construction equipment Consortium as an Advisory Council member, to help set the standard for wireless communications in the construction industry. Cramo is the first European-based consortium member and will assist Qualcomm in defining its European wireless construction equipment solutions.
For equipment rental fleets like Cramo, Qualcomm's mobile communications products and services will help enable more accurate billing, increased revenues, reduced maintenance and administration costs, and improved credit and risk management. Additionally, equipment rental fleets can integrate mobile communications with service, delivery and sales vehicles to provide best-of-class customer service and response times, while further improving the efficiencies of delivery and service truck dispatch and operations.
Qualcomm established the construction equipment Consortium to include industry-leading equipment rental companies, contractors and equipment manufacturers worldwide to support the development of standardized wireless equipment management solutions for the construction equipment industry. Qualcomm is developing multimode wireless equipment management solutions based on a common, ruggedized hardware platform. These equipment management solutions are connected by Qualcomm's Network Management Center, which is one of the world's largest and most reliable wireless data networks. Equipment rental fleets, contractors and construction equipment manufacturers are invited to join Qualcomm's construction equipment Consortium.
"Wireless equipment management can be a powerful tool for Cramo, our customers and our suppliers," said Mats Stenholm, asset manager, Cramo AB. "By joining the Consortium, Cramo will help drive an industry standard, enabling us to communicate with any piece of equipment, at any one of our rental locations or with any one of our customers, regardless of the manufacturer or end user. Cramo understands the power of information in the equipment rental industry, and wireless equipment management solutions like Qualcomm's can help us ensure the right information gets to the right place at the right time."
"Working with European equipment rental industry leader Cramo enables Qualcomm's construction equipment Consortium to develop wireless equipment management products and services that satisfy the needs of the European construction industry," said Tim Lewis, senior director of construction equipment management solutions for Qualcomm. "The equipment rental industry needs a wireless system that seamlessly and effectively manages equipment fleets of mixed makes and models. Cramo's membership reinforces industry acceptance of a global standard for wireless equipment management solutions."
Advisory Council members will help Qualcomm in establishing product specifications and overall system requirements, thereby ensuring that these products satisfy the needs of equipment rental companies, contractors and equipment manufacturers alike. Advisory Council membership is intended for equipment rental companies, contractor fleets, dealers, distributors and industry associations to provide input on standardized mobile communications solutions for the industry. All equipment manufacturers are also invited to join the Consortium at the Gold or Member level.
Qualcomm is currently in discussions with a number of other leading equipment rental companies, contractor fleets and equipment manufacturers worldwide regarding participation in Qualcomm's construction equipment consortium.
Cramo (www.cramo.com) is one of northern Europe's leading rental groups with operations in Sweden, Norway, Denmark, the Netherlands, Finland, Estonia and Poland. It hires out machinery, equipment and modular space to industry, construction companies and the public sector through more than 180 service and sales outlets. Cramo had a turnover of SEK 2 billion in 2001, with pre-tax profits of SEK 255 million. It has a workforce of almost 900 employees. The Group's parent company, Cramo Holding AB, is owned by Geveke NV (the Netherlands) 24.9%, Caterpillar S.A.R.L. (Switzerland) 25.0%, and Janivo Holding BV (the Netherlands) 50.1%.
Qualcomm, the leader in mobile communications for the transportation industry, has helped the industry become more efficient since 1988 when the introduction of theOmniTRACS® mobile communications system provided companies with an innovative and effective way of managing logistics. Its fleet management solutions continue to set the standard by offering products and services that meet the demands of a constantly changing marketplace. WithOmniExpress®, a Code Division Multiple Access (CDMA)-based digital wireless communications and tracking system, along with other industry-leading technologies, Qualcomm continues to expand into new mobile markets. With a Network Management Center that processes more than seven million transactions each day and over 450,000 Qualcomm mobile systems shipped to businesses in more than 39 countries on four continents, Qualcomm continues to lead the industry in providing wireless data solutions.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology worldwide. Headquartered in San Diego, Calif., Qualcomm is included in theS&P500 Index and traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including the extent to which the Company's OmniTRACS and other mobile communications products are deployed, 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 30, 2002, and most recent Form 10-Q.