GE And SAIC Launch Development Of Smart Shipping Container
STAMFORD, Conn.--(BUSINESS WIRE)--March 11, 2004--General Electric Company (GE) and Science Applications International Corporation (SAIC) today announced the signing of a Joint Development Agreement, aimed at developing and testing an integrated system to protect shipping containers. One element of the system, the GE VeriWise(TM) platform, is already in use as an asset-tracking and security device for over-the-road trailers.
SAIC's Security and Transportation Technology (STT) business unit and GE's Equipment Services division have independently developed technologies for monitoring and tracking containers and other assets.
The companies intend to integrate these technologies in a system that not only tracks, but also reliably deters, detects and reports intrusion attempts through any of the six sides of the container.
GE and SAIC will design this system around U.S. Customs' guidance for expedited clearance and the business requirements of the global shipping industry. In the coming months, the companies will refine and pilot a flexible, expandable platform designed to keep pace with advancing technology and evolving regulations in the years to come.
We're excited to extend our GE VeriWise system beyond trailers to other mobile assets, said Andrew Greta, general manager
-- Asset Intelligence, GE Equipment Services. This agreement marks a natural growth of our technology to address other cargo security challenges, particularly at ports and other border points.
With acts of terrorism on the rise around the world, cargo containers are a prominent area of vulnerability, said William J. Kelly, SAIC senior vice president and manager of the Security and Transportation Technology Business Unit. The challenge is to provide effective protection without impeding commerce. By listening carefully to both Customs authorities and shippers, we believe that we can develop an effective, scalable solution that enhances security while adding value for shippers. SAIC is pleased to work with GE, a leader in both technology and transportation, on a project of this magnitude.
About SAIC
SAIC is the nation's largest employee-owned research and engineering company, providing information technology, systems integration and eSolutions to commercial and government customers. SAIC engineers and scientists work to solve complex technical problems in national and homeland security, energy, the environment, space, telecommunications, health care, and logistics. With annual revenues of $5.9 billion, SAIC and its subsidiaries, including Telcordia Technologies, have more than 43,000 employees at offices in more than 150 cities worldwide. More information about SAIC can be found at www.saic.com.
About GE Equipment Services
With $16 billion in assets, GE Equipment Services provides leasing and asset-management services for commercial and transportation equipment, including computer networks, vans, trucks, trailers, railcars, marine containers, and mobile and modular buildings. GE (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. More information can be found at www.geveriwise.com or www.ge.com.
Statements in this announcement other than historical data and information constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements or industry results to be very different from the results, performance or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the Company's Annual Report on Form 10-K for the period ended December 31, 2003, and such other filings that the Company makes with the SEC from time to time.
Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
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CONTACT: SAIC (San Diego, CA)
Ron Zollars, 858-826-7896
or
GE Equipment Services (Stamford, CT)
David Jensen, 203-961-2281