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Signs agreement with ING Commerce Group
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Signs agreement with ING Commerce Group
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R.A.N.K.I.N. Technologies Inc.
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Press Release
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R.A.N.K.I.N. Technologies
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9/12/1999
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R.A.N.K.I.N. Technologies Inc. signs agreement with ING Commerce Group
MONTREAL, Dec. 9 /CNW/ - R.A.N.K.I.N. Technologies Inc. announces that an
agreement has been signed with ING Commerce Group, Quebec's leading general
insurer. Founded in 1907, ING Commerce Group offers, through a vast network of
some 1,000 independent brokers located throughout Quebec, a unique range of
insurance products and services. Since 1989, ING Commerce Group has been a
subsidiary of ING Group, a Dutch company that is one of the largest integrated
financial services firms in the world.
In view of this agreement, ING Commerce Group has modified its
underwriting guidelines, stipulating the following on new vehicle insurance
policies:
- a vehicle tracking device, such as Boomerang, is now mandatory for some
models;
- 25-30% rebates for specific coverage of vehicles equipped with a
tracking device.
COMPANY BACKGROUND
Rankin Technologies Inc. markets and distributes the Boomerang, a
proprietary product utilizing technology patented by the Company. The
Boomerang is the central device in a cellular-based asset tracking system
capable of locating stolen automobiles, heavy equipment and valuable objects.
Utilizing the cellular systems of major regional telecommunications companies,
the Boomerang is capable of functioning indoors, underground, inside metal
freight containers and in many other previously inaccessible locations.
Boomerang is a registered trademark of Rankin Technologies Inc. It's
headquarters and production facilities are located in Montreal, Quebec. Rankin
products are sold and distributed in the provinces of Quebec, Ontario and
British Columbia. Rankin Technologies Inc. shares are traded on the Canadian
Venture Exchange (CDNX) under the trading symbol ``BMG.A''.
The Canadian Venture Exchange (CDNX) neither approves nor disapproves of
the information contained herein.
-30-
For further information: Linda Farha, Director of Marketing and
Communications, R.A.N.K.I.N. Technologies Inc., (514) 234-8722 or toll free at
1-877-777-8722 extension 311, [email protected]
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| Boomerang
Tracking Inc. assembles, markets and distributes
the Boomerang Tracking System, a proprietary product
using technology patented by the Company. The
Boomerang Tracking System is the central device
in a cellular-based asset tracking system utilizing
the wireless systems of major regional telecommunications
companies. The Boomerang Tracking System is capable
of locating stolen automobiles, heavy equipment
and valuable objects. The Company's proven recovery
record has received endorsement by members of
the insurance industry. The Boomerang Tracking
System is installed through a network of authorized
dealers located throughout the provinces of Quebec,
Ontario and British Columbia. The Company's head
office, research and development, production and
corporate installation facilities are located
in Montreal, Quebec. Boomerang is a registered
trademark of Boomerang Tracking Inc. The shares
of Boomerang Tracking Inc. trade on The Toronto
Stock Exchange under the symbol BMG. |
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