ORLANDO, Fla.--(BUSINESS WIRE)--March 13, 2006--Wal-Mart Stores, Inc. (NYSE:WMT) and the Trailer Fleet Services division of GE Equipment Services have announced an agreement whereby GE (NYSE:GE) will supply Wal-Mart with trailer tracking technology for its fleet of 46,000 over-the-road trailers. The announcement was made during the Truckload Carriers Association 68th convention, one of the largest annual gatherings of trucking industry executives. Terms of the deal were not disclosed.
Telematics is a term used in the trucking industry to describe the integration of wireless communications and sensor-generated information about freight and equipment status. GE's telematics product, called VeriWise(TM) Asset Intelligence, is a dual satellite system that enables precise and timely monitoring of trailer assets -- even when they are not connected to a tractor.
"We're pleased to offer Wal-Mart this strategic solution to their global supply chain needs," said Deborah Reif, CEO of GE Equipment Services. "The tracking and monitoring data generated by VeriWise helps fleets increase productivity, reduce costs, and meet global security and regulatory requirements. We look forward to further developing our new relationship with Wal-Mart as we expand our asset intelligence capabilities into all major modes of the global supply chain."
First introduced by GE in April 2003, VeriWise consists of a fully protected, trailer-mounted transceiver, a discreet antenna, and a patented power management system. The system uses the Orbcomm low earth orbit satellite network, and is supported by GE's Asset Intelligence business in Barrington, Ill., with advanced research and engineering resources from GE's four global research centers. Wal-Mart will also be using two recent enhancements to VeriWise capabilities, an interior-mounted cargo sensor and a solar trickle charging system to further extend battery life.
Tim Yatsko, Wal-Mart's Senior Vice President for Transportation, noted that adding trailer tracking capability gives Wal-Mart greater supply chain visibility, and that GE's technology platform appears flexible enough to support the company's present and future plans for using telematics data.
"When our shipments are in transit, it's important for us to know at all times their whereabouts and the interior condition of the trailer and its contents," Yatsko continued. "GE gives us a technical solution that can be integrated across our supply chain and gives us the foundation of an information-based approach to managing it more efficiently. The solar-charging capability in VeriWise also supports our ten-year trailer maintenance requirement as well as our sustainability efforts."
Wal-Mart used its existing trailer leasing relationship with GE's Trailer Fleet Services business to make known its trailer tracking needs. The installation of VeriWise on the Wal-Mart fleet is already well under way, and when completed this year will make the world's leading retailer GE's largest trailer telematics customer.
GE Equipment Services offers VeriWise worldwide and is developing similar asset tracking and monitoring services for the rail, container and intermodal markets.
About Wal-Mart
Wal-Mart Stores, Inc. operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM'S CLUB locations in the United States. The company also operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom. The company's securities are listed on the New York and Pacific stock exchanges under the symbol WMT. More information about Wal-Mart can be found by visiting www.walmartfacts.com. Online merchandise sales are available at www.walmart.com.
About GE Equipment Services
GE Equipment Services is a global provider of transport solutions for the world's supply chains. Offering a full range of equipment leasing and intelligence-based asset management and logistics services for manufacturers, retailers and shippers, Equipment Services enables the timely movement of raw materials and cargo for the global economy. Equipment Services includes Wayne, Pa.-based Trailer Fleet Services, a single-source provider for trailer leasing, renting, financial services, insurance, maintenance, remarketing and asset tracking, and GE's Asset Intelligence unit, based in Barrington, Illinois, which provides worldwide mobile-asset tracking and condition-monitoring products and services and supports (VeriWise)(TM). Details and ordering information for VeriWise may be found at www.trailerservices.com.
VeriWise Fact Sheets Available to Media Outlets:
How VeriWise Asset Tracking Works (image and video)
The Future of Logistics using VeriWise (video)
VeriWise Sensors: Fact Sheet & Q&A
VeriWise Solar Charging Unit: Fact Sheet & Q&A
VeriWise Case Studies
Contacts
GE Equipment Services, Stamford, CT
David Frail, 203-961-2281, 203-605-7909 (m)
[email protected]
or
GE Trailer Fleet Services, Wayne, PA
Patrick Brennan, 484-254-0127
[email protected]
or
Wal-Mart Stores, Inc., Bentonville, AR
Marty Heires, 479-277-7584
[email protected]
or
RT&E Public Relations
Ted Sikorski, 302-429-5132
[email protected]