FLORHAM PARK, N.J., Feb. 6, 2012 / -- Boomerang Systems, Inc. (OTCQB: BMER) a leading designer and manufacturer of automated robotic parking and self storage systems, announces it has been contracted to supply 226 parking spaces utilizing its innovative RoboticValet™ Parking System in the Grand Hotel, located in Hollywood Beach, Florida. Development has just restarted after a long hiatus during which the property's current owner, Liberty Sites, Ltd., purchased the site out of foreclosure. Liberty Sites is a leading Canadian real estate developer with properties in Quebec and British Columbia.
The Grand Hotel will offer a mix of condominium units and hotel rooms. It features a contemporary exterior building design complimented by elegant, sophisticated interior appointments. Liberty's renowned in-house designer and architect, Paula Villabona, heads up the design team responsible for the entire project. Paula stated, "We recently submitted our architectural drawings and project renderings to the City of Hollywood in December of 2011. They absolutely loved our design concept and enthusiastically granted us approval to move forward with the permitting process. We anticipate breaking ground and beginning construction this summer."
Moses Bensusan, CEO of Liberty Sites, stated, "Our overall project concept is very contemporary, progressive, and forward thinking to ensure the long term success of this property. We have been very careful to incorporate what we feel is an exciting and attractive building design, the very best interior design elements, and to utilize cutting edge technology, such as a robotic parking system. We chose Boomerang Systems as the supplier of our robotic parking system after carefully considering and studying multiple other systems. Their RoboticValet Parking system has many advantages over all the other systems we looked at and we are confident their system will be a wonderful amenity enjoyed by all of our hotel guests and unit owners."
Rich Cline, who serves as the Director of Business development for Boomerang Systems, Inc., and who has worked closely with Moses and Paula on the Grand Hotel stated, "We at Boomerang are thrilled to be a part of the Grand Hotel project and are very excited to begin our implementation process later this year."
About Boomerang Systems, Inc.
Headquartered in Florham Park, NJ, with research, design, testing and production facilities in Logan, UT, Boomerang Systems, Inc. (www.boomerangsystems.com) is in the business of selling, designing, engineering, manufacturing, installing and supporting its own line of fully automated parking systems and fully automated self-storage systems. The Company is the developer and sole provider of the Boomerang RoboticValet™ automated robotic parking system which differs from legacy automated parking systems in that it transports vehicles on a flat solid concrete slab without the use of a rail or track. The company believes that this system provides numerous advantages with regard to redundancy, throughput, layout flexibility and fire and life safety in comparison to other legacy rail based automated parking systems. Prior to starting Boomerang, the company's founding principals started S&S Worldwide, which has grown to become the largest manufacturer of thrill rides in North America with customers in 31 countries including Disney, MGM, Six Flags & Cedar Fair. Engineering accomplishments include the World's tallest thrill ride (Stratosphere, Las Vegas, NV) and the World's first roller coaster to go over 100 MPH (Guinness World Record in 2002).
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: The Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Boomerang Systems, Inc.'s current views about future events, financial performances, and project development. These "forward-looking" statements are identified by the use of terms and phrases such as "will," "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Boomerang's expectations. These risk factors include, but are not limited to, the risks and uncertainties identified by Boomerang Systems, Inc. under the headings "Risk Factors" in its latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. These factors are elaborated upon and other factors may be disclosed from time to time in Boomerang Systems, Inc.'s filings with the Securities and Exchange Commission. Boomerang expressly does not undertake any duty to update forward-looking statements.