Union Equity, Inc. Begins Beta Testing for New State of the Art GPS Tracking System
ORLANDO, FL, Oct 06, 2010 (MARKETWIRE via COMTEX) -- Union Equity Inc. (PINKSHEETS: UNQT) is pleased to announce that the Company has signed an agreement with EarthSearch Communications, Inc., a wholly owned subsidiary of East Coast Diversified Corp. (OTCBB: ECDC) to begin a six month beta testing for a new state of the art GPS (global positioning system) developed by Earth Search. Union Equity's management believes that EarthSearch's LogiBoxx(TM) GPS tracking system will help Union Equity increase its recovery rate on lost or stolen Class 8 semi-trucks, which, in turn, may also help increase the recovery rate of any lost or stolen cargo carried thereon. Based in the US, EarthSearch's flagship product, LogiBoxx(TM), integrates GPS and RFID (radio-frequency identification). LogiBoxx(TM) communicates wirelessly with RFID interrogators, sharing data, reacting to anomalies, and making intelligent business decisions about cargo in transit, supply chain and logistics operations without human intervention, all in real-time. The LogiBoxx(TM) Certified Solution, when combined with EarthSearch's middleware GATIS (Global Asset Tracking and Identification System), offers continuous visibility within supply chain, logistics, and asset management.
A recent survey by Chubb Group Insurance Companies revealed that broken links in the supply chain are one of the top three threats to business operations and one of the most significant 'breaks' in the supply chain is theft. In the United States cargo security market, an estimated $10 billion to $30 billion in merchandise is stolen from cargo ships, trucks, ports, railroads and highways annually. Furthermore, according to the Transported Asset Protection Association (TAPA), 85 percent of all business asset losses are attributed to either the theft or loss of product in transit.
"Union Equity is a perfect candidate to test our state of the art LogiBoxx(TM) technology. We are very impressed with Union Equity's fleet of Class 8 semi-trucks and are hopeful that we will have a long and successful relationship with them for years to come," stated Kayode Aladesuyi, President of EarthSearch Communications, Inc.
"We feel that EarthSearch's Integrated GPS/ RFID tracking system is a perfect fit for us," stated Steven Woodell, President of Union Equity, Inc. "This is a great way for us to protect our trucks, which in turn will help us save money and allow us to grow our Class 8 semi-truck fleet."
About Union Equity, Inc. Union Equity is a commercial truck leasing business engaged in leasing class 8 commercial trucks to owner operators located around the contiguous 48 states. Many owner operators drive on a for hire basis for Fortune 500 companies, while others have their own authority to haul freight throughout the United States. Union Equity's strategy has been to target both groups of owner operators through an aggressive marketing program and complete "one stop shop" solution for the owner operator. Through their unique business model, Union Equity is able to provide owner operators with a leased truck regardless of their credit history. Owner operators need only to have a valid commercial driver's license, acceptable insurance, proof of a shipper's intent to hire, and a willingness to work.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Investor Relations: Management Solutions International 1 407-389-5900
SOURCE: Union Equity, Inc.
Copyright 2010 Marketwire, Inc., All rights reserved. -0-
SUBJECT CODE: Automotive:Trucks Manufacturing and Production:Packaging and Containers Transportation and Logistics:Trucking Transportation and Logistics:Railroads and Intermodal Transportation and Logistics:Air Freight
News 
Market Data 
Discover 
