news
The Boomerang® Tracking System uncovers over $450,000 in stolen vehicles
R.A.N.K.I.N. Technologies Inc.
Press Release
Serge Laporte
11/20/2000
R.A.N.K.I.N. Technologies Inc. uncovered nine stolen luxury vehicles last night with the use of their cellular-based Boomerang Tracking System, two of which were equipped with the Boomerang device. Insurance companies continue to reap the benefits of their relationship with Boomerang, having saved more than $450,000 thanks to this track alone. Three 4-Runners, a Dodge Durango, a BMW 740i, a Mercedes E430, a Corvette Convertible and a 4x4 Infinity were amongst the vehicles found on Choisy Rd. in St-Leonard, Quebec.

“Last night’s track confirms once again the crucial role that the Boomerang device plays in auto theft prevention. With its impressive success rate, the Boomerang device has not only led to the recovery of more than 700 vehicles since its launch in the marketplace but has provided savings of over $36.5 million. With its primary goal of countering automobile theft, the Boomerang Tracking System assists law enforcement authorities in the break up of organized crime” explains Linda Farha, Director of Marketing, Communications and Investor Relations at R.A.N.K.I.N.

Four hundred and forty-two vehicles are stolen every day in Canada, representing 18 thefts per hour. Quebec is ranked as having the highest rate of auto theft among all Canadian provinces. According to the Groupement des assureures automobiles, the cost of automobile theft has increased by 40% or $78 million over the past six years. Needless to say, automobile theft is significant when considering the cost of insurance. For example, in 1999, 34,446 vehicles were stolen in Quebec alone, representing a loss of $271 million to the insurance industry.

Not only does the Boomerang provide its customers with 24-hour protection, it also provides peace of mind and considerably less inconvenience for the owner in the event of theft. As opposed to Boomerang’s sixty minute average recovery time, a stolen vehicle not protected by a Boomerang can mean a wait of 30 days before insurance companies settle the claim.
Boomerang Tracking Inc. markets and distributes the Boomerang® tracking devices, proprietary products using technology patented by the Company. The Boomerang, Boomerang2™ and GSM-based units are the central devices in a system that uses the wireless networks of major regional telecommunications companies for tracking stolen assets. The Boomerang Tracking System is capable of locating stolen automobiles, heavy equipment and valuable assets. As a result of its success, the Company has received the endorsement of members of the insurance industry. The Boomerang devices are available and installed through a network of authorized dealers in Quebec and Ontario. The Company's head office, research and development centre and manufacturing facilities are located in Montreal, Quebec, with regional facilities located in Mississauga, Ontario and Orange County, California. Boomerang is a registered trademark and Boomerang2 is a trademark of Boomerang Tracking Inc. The shares of Boomerang Tracking Inc. trade on The Toronto Stock Exchange under the symbol BMG.