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News ReleaseNovAtel Inc. GPS Receivers OnBoard Port of China Container Positioning and Tracking System
(Calgary, Alberta, Canada, January 30, 2007) - NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, announced today that its dealer, Beijing BDSTAR Navigation Co. Ltd., Beijing, China, completed deployment of NovAtel GPS-based systems for the Shanghai Yangshan port Container Terminals (SYCT), one of the largest cargo ports in the world, as per the terms of a contract awarded in August 2006. NovAtel GPS receivers will power a system used for positioning and tracking all container-handling equipment in Yangshan Port Phase I and Phase II terminals, including quayside cranes, rubber-tired gantry cranes, forklifts, reachstackers and trailers. BDSTAR has established itself as a strategic supplier in this market with previous contract wins for Ninbo Port Second Container Terminal (NBSCT) September 2006; Shanghai Yangshan Container Terminals (SYCT) August 2006; Shenzhen Chiwan Container Terminals (CCT) April 2006; Tianjin Container Terminals (TCT) 2004; and other container terminals in Shen Zhen and Hong Kong. According to Qin Jiafa, Vice President and CTO of BDSTAR, “Port positioning business is a strategic focus for BDSTAR. We have integrated BDSTAR’s customized software services with NovAtel’s accurate and reliable GPS technology to create a strong product offering for this market. Adding this to our increased efforts and resources directed towards the development of business in this application sector, we believe we will have more success in this promising market.” NovAtel supplied about 500 GPS receivers integrated with BDSTAR’s Container Terminal Operations Monitoring and Controlling Software (TOMACS) and proprietary integrated navigation hardware, for the various ports throughout 2006. NovAtel’s GPS receivers track container positions, and aid dispatching container handling tasks and optimizing the efficient management and operation of container placement. With millions of container shipments being placed in port terminals annually, GPS technology can greatly reduce the number of lost or misdirected containers, improving safety of life conditions and reducing operating costs. “With contracts in three key economic regions in China, BDSTAR has positioned itself as a leader in container tracking technology. It is exciting to have NovAtel technology onboard this growing market segment, not only in China but in other ports around the world that have already integrated our GPS components, such as the United States, United Kingdom and Australia,” said Graham Purves, NovAtel’s Vice President Sales. About NovAtelNovAtel Inc. (NASDAQ:NGPS) is a leading provider of precision Global Navigation Satellite System (GNSS) components and subsystems that afford its customers rapid integration of precise positioning technology. The Company’s mission is to provide exceptional return on investment and outstanding service to our customers. An ISO 9001 certified company, NovAtel is focused on developing quality OEM products including receivers, antennas, enclosures and software that are integrated into high precision positioning applications worldwide. These applications include surveying, Geographical Information System (GIS) mapping, precision agriculture machine guidance, port automation, mining, marine and defence industries. NovAtel’s reference receivers are also at the core of national aviation ground networks in the USA, Japan, Europe, China and India. The Company is committed to providing its customers with advanced positioning technology through significant R&D investment focusing on the modernized Global Positioning System (GPS), the revitalized Russian GLONASS and the emerging European Galileo satellite systems, as well as the integration of additional complementary technologies such as Inertial Measurement Units (IMUs). For more information, visit www.novatel.com. Certain statements in this news release, including those about the Company’s future plans and intentions, levels of activity and growth prospects in the port positioning market, future performance, long-term growth prospects, levels of activity or other future events, are forward-looking statements. These forward-looking statements are not based on historical facts but rather on management’s current expectations regarding NovAtel’s future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Wherever possible, words such as ‘‘anticipate’’, ‘‘believe’’, ‘‘expect’’, ‘‘may’’, ‘‘could’’, ‘‘will’’, ‘‘potential’’, ‘‘intend’’, ‘‘estimate’’, ‘‘should’’, ‘‘plan’’, ‘‘predict’’, “forecast” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including operating results of the Company’s joint venture Point, Inc. (“Point”), impact and timing of large orders, U.S. dollar to Canadian dollar exchange rate fluctuations, establishing and maintaining effective distribution channels, certification and market acceptance of NovAtel’s new products, credit risks of customers and the Company’s joint venture Point, pricing pressures in the market and other competitive factors, maintaining technological leadership, timing of revenue recognition in connection with certain contracts, the ability to maintain supply of products from subcontract manufacturers, the procurement of components to build products, product defects, the impact of industry consolidations, vulnerability to general economic, market and business conditions, competition, environmental and other actions by governmental authorities, reliance on key personnel and other factors described in the Company’s Form 20-F for the year ended December 31, 2005 and other SEC filings, many of which are beyond the control of NovAtel. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. These forward-looking statements are made as of the date of this news release, and NovAtel assumes no obligation to update or revise them to reflect new events or circumstances. |
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