UPDATE – Numerex Announces Expansive Tank Monitoring Deal with PetroChoice Lubrication Solutions
21 Junio 2017 - 7:00AM
Numerex Corp (NASDAQ:NMRX), a leading provider of enterprise
solutions enabling the Internet of Things (IoT), today announced a
deal using the iTank™ application which supports the tank
monitoring capabilities of PetroChoice, a Pennsylvania based
petroleum distributor that delivers bulk lubes and fuels for
industrial applications in the automotive, construction, mining,
and drilling industries, among others. PetroChoice has a
total of 52 facilities in 31 states, making it one of the largest
bulk lubricant distributors in the United States. The PetroChoice
agreement includes an initial commitment to monitor over 6,000
tanks nationwide.
A Numerex customer since 2015, this deal will provide
significant savings and a customized program for on-going support
to enable PetroChoice to expand the number of tanks they monitor
and improve their delivery operations and customer service. Since
February of last year, over 3,000 new tank monitors have been
installed and activated on PetroChoice tanks across the
country. An additional 3,500 tank monitor installations are
scheduled through the end of next year.
Kelly Gay, Numerex COO added, "We are delighted to announce a
scaled iTank rollout with PetroChoice, a nationwide leader in the
petroleum distribution industry. This successful deployment is an
excellent example of Numerex's strong commitment to our customers.
It demonstrates the great benefits that can be brought to
enterprises by a first class end-to-end IoT solution. We are
excited to serve prestigious customers like PetroChoice to bring
them tangible results from our solutions.”
“We are excited to have found a partner that is willing to grow
with us, and Numerex’s tank monitors will enable us to take
customer service to the next level,” says Alex Rapp, SVP of
Operations for PetroChoice.
PetroChoice currently services over 23,000 customers, and the
company’s aggressive growth strategy represents a huge opportunity
for Numerex. PetroChoice was attracted to the iTank offering due to
Numerex’s unique service offering, which lowers upfront costs to
the customer, and focuses on best-in-class service and support to
enable fast deployment, and a quick return on investment, typically
within the first year. PetroChoice has increased their tank
delivery efficiency by 6% in the first 9 months of the project,
effectively taking out one stop per monitored tank, while
delivering the same volume of product.
About Numerex
Numerex Corp. (NASDAQ:NMRX) is a leading
provider of managed enterprise solutions enabling the Internet of
Things (IoT). The Company's solutions produce new revenue
streams or create operating efficiencies for its customers. Numerex
provides its technology and services through its integrated
platforms, which are generally sold on a subscription basis. The
Company offers a portfolio of managed end-to-end IoT solutions
including smart devices, network connectivity and service
applications capable of addressing the needs of a wide spectrum of
vertical markets and industrial customers. The Company's mission is
to empower enterprise operations with world-class, managed IoT
solutions that are simple, innovative, scalable, and secure. For
additional information, please visit www.numerex.com.
About PetroChoice
PetroChoice is one of the largest petroleum-based lubricant
distributors in the United States, providing business solutions for
industrial, commercial, and passenger automobile customers. The
company, headquartered in Fort Washington, Pennsylvania, operates
52 locations across the U.S. and employs some of the nation’s most
knowledgeable technical experts of petroleum lubrication and
equipment. PetroChoice is a portfolio company of Golden Gate
Capital. For more information about PetroChoice, please visit
Petrochoice.com.
Numerex PR Contact
Thomas McKay, Senior Director, Marketing and Communications
tmckay@numerex.com
Numerex Financial Contact
Kenneth Gayron
Interim CEO and CFO
kgayron@numerex.com
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