SASKATOON, SK and BURLINGTON, ON, May 7 /CNW/ - International Road
Dynamics Inc. (TSX: IRD) and IPICO Inc. (TSX-V: RFD) announced today that they
have entered into a strategic relationship under which IRD will have the
exclusive right to market and sell IPICO's range of Electronic Vehicle
Identification (EVI) Radio Frequency Identification Device (RFID) systems
throughout Mexico, Central and South America. Under this agreement IRD will
also be IPICO's preferred distributor in India and certain other countries in
the Indian Subcontinent, West Africa and Nigeria.
IPICO's EVI products will be offered by IRD in order to expand and
diversify their own road and vehicle management solutions within certain
international markets in which IRD has already established a strong presence.
IPICO's IP-X Technology and EVI products satisfy an increasing global
demand for low cost, robust solutions designed to ensure secure and efficient
toll collection, traffic management, vehicle identification, access and
congestion charging and other vehicle applications. The IPICO EVI system
consists of passive RFID tags, and readers built around ISO 18000 standards
and the IPICO IP-X protocol, supported by encryption and authentication
technologies that provide for multiple levels of security and protection.
IPICO's solutions are field-tested and deliver increased speed of read, and in
combination with IRD's products offer a standardized platform for a cost
effective integrated Intelligent Transportation Systems deployment.
Terry Bergan, IRD President and CEO, commented: "We are very pleased to
be entering into this exclusive strategic arrangement with IPICO. Their EVI
solutions complement our own products and will enable us to expand our sales
and further penetrate a number of markets where we are already selling and
supporting our traffic management systems."
Gordon Westwater, CEO of IPICO added: "We recognized that the fastest way
to meet the growing demand for our own EVI solutions required a
well-positioned partner with established relationships in key global markets.
IRD is a well respected name in the traffic management business, and is now
able to offer its current and new clients the significant benefits provided by
IPICO's advanced technology. For IPICO, this strategic agreement allows us to
grow much faster and to immediately satisfy a much broader international
ABOUT INTERNATIONAL ROAD DYNAMICS INC.: IRD is a highway traffic
management technology company specializing in supplying products and systems
to the global Intelligent Transportation Systems (ITS) industry. IRD is a
North American company based in Saskatoon, Saskatchewan with sales and service
offices throughout the United States and overseas. Private corporations,
transportation agencies and highway authorities around the world use IRD's
products and advanced systems to manage and protect their highway
infrastructures. For further information, please visit www.irdinc.com.
ABOUT IPICO Inc.: IPICO Inc. is an RFID solution supplier with operations
in Canada, USA, South Africa, Europe, Asia and Australia. IPICO produces smart
labels and tags based on the IP-X communication protocol. IPICO's low
interference readers are designed to meet regulatory requirements in many
major markets, and allow for multi-reader rollout in close proximity. IPICO's
low cost RFID products excel at long read range, fast multi-read
anti-collision and high thru-beam read-speeds of dynamic tag populations.
These products are used to optimize the management of items, people, animals
and processes within the logistic supply chain and other value chains. For
further information, go to www.ipico.com.
This news release contains certain forward-looking statements pertaining
to future anticipated projected plans, performance and developments, as well
as other statements relating to future operations and results, including,
without limitation, statements as to sales forecasts and required minimum
future revenues. Any statements in this news release that are not statements
of historical fact may be considered to be forward-looking statements. Written
words such as "may", "will", "expect", "believe", "anticipate", "estimate",
"intends", "goal", "objective", "seek", "attempt", "suggest" or variations of
these or similar words, identify forward-looking statements. These statements
by their nature are estimates of future results only. Actual results could
differ materially from those contained in the forward-looking statements and
are based on current expectations that involve substantial risks and
uncertainties, including but not limited to the failure to meet market growth,
order volume, delivery commitment or minimum revenue expectations, political
intervention, and those other risks and uncertainties detailed from time to
time in IPICO's periodic reports filed on SEDAR (www.sedar.com).
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: Terry Bergan, President & CEO, IRD, Phone:
(306) 653-6600, U.S. (303) 355-5998; Francine Senecal-Lepage, Investor
Relations, Phone: (306) 653-6603, FAX: (306) 653-6609, Email:
firstname.lastname@example.org; Gordon Westwater, President & CEO, IPICO Inc., Tel: (905)
631-6310, Email: email@example.com