Numerex Announces Expansive Tank Monitoring Deal with PetroChoice Lubrication Solutions
20 Giugno 2017 - 2:30PM
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 LLC, 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 the largest bulk
lubricant distributor in the United States. The deal represents a
multi-million dollar, multi-year contract with an initial
commitment to monitor over 6,000 tanks nationwide.
This deal will provide significant savings and a program for
on-going support for PetroChoice, a Numerex customer since 2015,
enabling expansion of the number of tanks they monitor using the
iTank monitoring solution. In addition, iTank will allow
PetroChoice to maximize the improvement of their delivery
operations and customer service. Since February 2016, 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 2018.
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,” added Alex Rapp, SVP of
Operations for PetroChoice.
PetroChoice currently services over 100,000 total tanks in the
field today with a current plan for 8-10% annual growth
representing a huge opportunity to improve operations.
PetroChoice was attracted to the iTank solution due to Numerex’s
unique service offering, which focuses on best-in-class service and
support to enable quick deployment with a faster return on
investment, typically within the first year. Using the iTank
solution, PetroChoice is still able to deliver the same volume of
product while effectively taking out one stop per monitored tank.
These fewer stops result in a higher profit margin for
distributors.
About Numerex
Numerex Corp. (NASDAQ:NMRX) is a leading
provider of 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 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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