AEDNews - Construction Equipment Industry News|
Construction Equipment Theft Remains a Prosperous Business for Professional Thieves
LoJack Corp. announced the results of its 12th annual Construction Equipment Theft Study*, providing valuable information on the ongoing issue of equipment theft with annual estimates of the cost of equipment theft varying between $300 million to $1 billion annually**.
According to the report, LoJack-equipped construction assets worth approximately $8.8 million were recovered in 2011. A total of 40 people were arrested by the police as a result of recoveries involving these assets. Since entering the construction market in 2000, the LoJack System has helped law enforcement recover LoJack-equipped stolen construction assets worth more than $130.5 million and bust nearly 80 chop shops and theft rings.
Here are the top-line results:
"As we look back on 2011, we're pleased with the ongoing benefits the LoJack System contributes to the construction industry and society at large," said Courtney DeMilio, national director, Commercial Division, LoJack Corp. "Not only does the System directly impact the bottom line of construction businesses by recovering equipment quickly, enabling them to keep working, but it helps get the bad guys off the streets. Many of these criminals are professional thieves who are part of theft rings that may commit other serious illegal activities."
Most Frequently Stolen Equipment: - Light Utility/Work Trucks and Trailers
State with the Highest Theft Rate: - California
Top Manufacturer Targeted for Theft: - Ford
About the Study
The 2011 LoJack Construction Equipment Theft Report is based on state theft statistics and equipment recoveries documented by LoJack in 21 states from January to December 2011. LoJack has been tracking theft/recovery data for the past 12 years and will continue to issue these reports annually to provide the industry with valuable statistics and trend information.
To read the study in its entirety click here.
Not sure how LoJack works with your equipment click here to watch a 60 second video.
Article Date: 2012-06-18
Source: Lojack Corp.
Copyright(C) 2012 Associated Equipment Distributors. All Rights Reserved.