ATLANTA, June 20, 2017 (GLOBE NEWSWIRE) -- 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.
