Toronto ON – BSM Technologies Inc. (“BSM” or the “Company”) (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced that it has been awarded a contract to provide its Sentinel FM asset tracking solution to a major U.S.-based railroad. The initial contract is for five years with an option to renew for a further five-year period.
This is BSM’s third contract with a North American railroad and the Company is currently testing its solutions with several operators. BSM’s equipment is now installed on thousands of high-rail maintenance vehicles and other assets at locations in Canada and the United States.
“We are very pleased with this significant win which will provide material incremental revenue and contribution for both the near and long term,” said Aly Rahemtulla, President and CEO. “BSM is now the leading fleet management solution provider to the railroad industry, and our clients have seen a significant return on investment, specifically in reducing fuel consumption, improving asset utilization and safety.”
From one unified web-based platform, the Sentinel FM solution features real-time asset monitoring for fuel efficiency, compliance, safety and asset utilization for a wide variety of vehicles and equipment – from cranes to high-rail trucks. Mixed fleets are a typical attribute of the railroad industry and today BSM clients are monitoring over 35 different types of vehicles and assets.
“BSM is a true end-to-end solution provider, offering flexible hardware and software solutions unmatched by others,” added Mr. Rahemtulla. “This gives us a unique advantage in meeting the needs of railroad industry and large enterprise clients. We are continuing to work to roll-out our solution to railroads across North America and beyond.”
About BSM Technologies (bsmwireless.com)
BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web‐based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.
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For more information, please visit http://www.bsmwireless.com
For more information please contact:
President & CEO
BSM Technologies Inc.
TMX | Equicom
1-416-815-0700, ext. 290