First Orders Received in Chile and Colombia
SASKATOON, SK and BURLINGTON, ON, Sept. 2 /CNW/ - International Road
Dynamics Inc. (TSX: IRD) and IPICO Inc. (TSX-V: RFD) announced today that
their recently formed strategic relationship (see IPICO news release of May 7,
2009) under which IRD has the exclusive right to market and sell IPICO's range
of Electronic Vehicle Identification (EVI) Radio Frequency Identification
Device (RFID) systems throughout Latin America is proving successful, with
initial orders already received for EVI projects in Chile and Colombia.
Preparations are underway for the deployment of an electronic tolling solution
in Chile, as well as for further installations in Colombia.
Under this agreement, IRD is also IPICO's preferred distributor in India
and certain other countries in the Indian Subcontinent, West Africa and
Nigeria. IRD has recently secured contracts to take over and expand an
existing road and vehicle management solution installation in India and
intends to deploy IPICO's EVI product lines as part of this expansion later
Terry Bergan, IRD President and CEO, commented: "Although our exclusive
strategic arrangement with IPICO is only a few weeks old, we are already
seeing the potential benefits both for our customers and for our organization
of being able to offer the most powerful, cost effective and reliable traffic
management systems available - systems that provide real-world solutions to
real-world traffic challenges."
Gordon Westwater, CEO of IPICO added: "We are very pleased with the
immediate commitment and dedication of our newest strategic partner to
bringing our shared EVI product offerings to several of the fastest growing
traffic management markets in the world. We also look forward to being able to
showcase a number of new installations in the coming year as demand in this
exciting market continues to expand, driven by the significant economic,
environmental and social pressures faced by so many countries around the
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.
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: Gordon Westwater, President & CEO, IPICO Inc.,
Tel: (905) 631-6310, Email: email@example.com; Terry Bergan,
President & CEO, IRD Canada: Tel: (306) 653-6600, U.S. (303) 355-5998;
Francine Senecal-Lepage, Investor Relations, Tel :(306) 653-6603, FAX: (306)
653-6609, Email: firstname.lastname@example.org