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| Boomerang-ing stolen goods back home
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Canadian Business
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Business Reporter
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4/2/2001
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New portable technologies can do more than streamline your work life or enhance your entertainment options. New tracking devices, for instance, that rely on cellular networks or satellite-based global positioning systems (GPS) to transmit their location, can go a long way towards easing your personal stress or, for corporations, improving your risk management.
Car stolen? Paving machine or Bobcat missing? Not a problem if you have hidden a small tracking device, like the Boomerang, inside the vehicle. The Boomerang, from Montreal-based Boomerang Tracking Inc., is similar in size to a small cell phone, operates on cellular networks and, unlike GPS systems, can send a clear signal from inside garages, metal freight containers or from amidst tall buildings. Stolen vehicles are usually located within an hour of being reported stolen. Since speed is essential to prevent your vehicle beingstripped down for parts, a new version, Boomerang2, will alert the network if the vehicle moves without your key in the ignition.
In Quebec, where Boomerang has been available for two-and-a-half years, 32 insurance companies now require that Boomerang be installed in high-end or high-risk vehicles. In Ontario and BC, where Boomerang is now also available, the insurance mandate is not yet so widespread but Boomerang's director of marketing, Linda Farha is hopeful it soon will be. "We have an impressive recovery rate," she says. "If we do not find the vehicle, the insurance company will cover the costs and we will reimburse the costs incurred for installation." So far, Boomerang has recovered $43 million worth of stolen property - including cars, heavy equipment, boats and recreational vehicles.
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| 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. |
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