MILPITAS, Calif., May 15 /PRNewswire-FirstCall/ -- Globalstar, Inc. (NASDAQ:GSAT), a leading provider of mobile satellite voice and data services to businesses and individuals, today announced that GE's Asset Intelligence division, a leading provider of intelligence-based mobile asset management solutions for the transportation industry has extended its Value Added Reseller (VAR) agreement with Globalstar to 2010. Asset Intelligence has expanded its VeriWise(TM) solution for Europe by utilizing the Globalstar Simplex data network among other services.
Globalstar Simplex data is a low cost, one-way satellite data service that can be used to monitor and track mobile assets -- such as vehicles, trailers, cargo containers, rail cars and marine vessels, using sensors and GPS or other location-based software. The Simplex service utilizes only the L-band uplink of Globalstar's constellation of 40 Low Earth Orbit (LEO) satellites, which is unaffected by the S-band downlink anomaly that the company reported in February. Therefore Globalstar expects its current constellation to fully support the Simplex data network until the launch of the Globalstar second- generation constellation.
"GE is a world class organization, known for developing innovative customer solutions, and we are very pleased that they have re-affirmed their confidence in the Globalstar Simplex data network," said Tony Navarra, President of Global Operations of Globalstar, Inc. Mr. Navarra added, "It is also good to know that our Simplex data network will now be used to help expand Asset Intelligence's presence throughout Europe." Specific distributors of the VeriWise Asset Intelligence solution have begun to sign contracts with their clients to utilize the expanded satellite tracking and data monitoring service. TIP, Trailer Services (TIP) GE's European trailer leasing unit, has entered into an agreement with tank container-operator and client Extar whereby TIP will fit their tank-container fleet with the VeriWise asset tracking solution. Extar will then be able to easily locate the tank-container locations and determine which ones are available for new loads. This will help improve the fleet utilization and productivity for Extar. An added advantage is that stolen or lost units could be retrieved more quickly and easily. Additionally, some units will also be fitted with a sensor device that can also monitor temperatures of materials such as fruit juice, which the containers transport.
"Following a successful testing period with TIP, we found out that this tracking device is more accurate and gives us and our customers more benefits than we expected," said Mario Kranendonk, Logistic Engineer for Extar. "Because GE's VeriWise solution is fitted to all of our tank-containers, we always know where all of our freight is. This way we can optimize our fleet to the fullest and use each unit 2 days per month more. So the system pays for itself very fast." In addition to basic asset tracking, the Globalstar simplex data service can be used for a wide variety of industrial and security applications to monitor and send information from fixed assets, such as environmental measuring instruments and utility meters. It can also be used for a variety of maritime and vessel monitoring applications.
Using the Globalstar satellite network, customers are able to economically monitor their assets within the Globalstar simplex coverage area. The data is then sent back to the customer's control and monitoring facility. This information is received essentially in real time, from remote installations far beyond the reach of ground-based communications systems.
For additional sales information regarding Globalstar simplex data solutions please contact Bob Bennett at (408) 933-4441 or via email at About Globalstar, Inc.
With over 250,000 activated satellite voice and data units, Globalstar offers satellite services to commercial and recreational users in more than 120 countries around the world. The Company's voice and data products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset tracking, data monitoring and SCADA applications.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com Safe Harbor Language for Globalstar Releases This press release contains certain statements such as "Therefore Globalstar expects its current constellation to fully support the Simplex data network until the launch of the Globalstar second-generation constellation" that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Globalstar's control, including demand for the Company's products and services; problems relating to the construction, launch or in-orbit performance of its existing and future satellites, problems relating to the ground-based facilities operated by it or by independent gateway operators; its ability to attract sufficient additional funding if needed to meet its future capital requirements; competition and its competitiveness vis-a-vis other providers of satellite and ground-based communications products and services; the pace and effects of industry consolidation; the continued availability of launch insurance on commercially reasonable terms, and the effects of any insurance exclusions; changes in technology; its ability to continue to attract and retain qualified personnel; worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis; and legal, regulatory, and tax developments, including changes in domestic and international government regulation.
Any forward-looking statements made in this press release speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and the Company undertakes no obligation to update any such statements. Additional information on factors that could influence Globalstar's financial results is included in its filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-K for the period ended December 31, 2006. DATASOURCE: Globalstar, Inc.
CONTACT: Dean Hirasawa of Globalstar, Inc., +1-408-933-4006, Web site: http://www.globalstar.com/
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