Boomerang Tracking Inc.
5/25/2004 – A York region contractor became the victim of theft when his Caterpillar D5 loader disappeared from his worksite. Luckily the Caterpillar was equipped with a Boomerang tracking device and the theft was immediately reported to Boomerang Tracking Inc.
Boomerang Tracking�s in-house tracking team located the missing Caterpillar, valued at over $110,000, to a warehouse east of Grand Valley Amaranth, Ontario. Ontario Provincial Police officials were immediately notified and seized the recovered loader along with ten other high-value vehicles and pieces of equipment, including: Caterpillar IT28 loader, Breadner 48� reefer trailer, Triaxle float trailer, 48� animal stock trailer, Dodge Pick-up, GMC Jimmy, GMC Silverado, Ford F-250 diesel and Ford F-450 dump truck. The estimated total value of the recovery is over $630,000. Two males were taken into custody at the scene, and the police are continuing the investigation.
While construction site theft is not the most common type, it weighs heavily on the industry as one of the most costly, with annual insurance claims representing more than $46 million. Construction theft losses not only mean increased overhead, operating, security and insurance costs, but also scheduling hurdles and lost man-hours of production.
For more details on the Boomerang tracking devices, visit www.boomerangtracking.com.
About Boomerang Tracking Inc.
Boomerang Tracking Inc. markets and distributes the Boomerang� tracking devices, proprietary products using technology patented by the Company. The Boomerang, Boomerang2TM and GSM-based units are central devices in a system that uses the wireless networks of large telecommunications companies for tracking stolen assets. The Boomerang Tracking System is capable of locating stolen vehicles, 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 center 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. Boomerang Tracking Inc. shares are listed on the Toronto Stock Exchange under the symbol BMG.