Fifteen month procurement extends long-standing relationship with BATA
TORONTO, Sept. 10 /CNW/ - Sirit Inc. ("Sirit")(TSX: SI), a global
provider of radio frequency identification ("RFID") technology, announced
today that the Bay Area Toll Authority ("BATA") has confirmed a toll
transponder order valued at $6.6 million over the next fifteen months. The
order includes two options to purchase up to $1.7 million in additional toll
The new order calls for Sirit to deliver its traditional sealed Title-21
based toll transponders including packaged tags available at retail locations.
BATA expects to begin distribution of transponders under this order in late
"We are pleased once again to have Sirit as our toll transponder
provider," commented Scott Shepard, FasTrak(R) Project Manager for BATA.
"Sirit continues to be a strong partner for BATA. Electronic tolling allows us
to maximize vehicle throughput on Bay Area bridges. Approximately 112 million
toll paying vehicles cross the seven state-owned bridges in a year. Of these,
approximately 60% currently use a FasTrak(R) toll transponder during the peak
commute period," added Mr. Shepard.
"This win once again underscores our reputation throughout the west coast
of North America as the competitive supplier of choice for open standard toll
technology," noted John Freund, Vice President Sales, Sirit. "We are proud of
our strong relationship with BATA and we continuously strive to advance
reliable product delivery and performance, competitively priced open standard
tag technologies and above all else - exceptional customer service," added Mr.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency
Identification (RFID) technology worldwide. Harnessing the power of Sirit's
enabling-RFID technology, customers are able to more rapidly bring high
quality RFID solutions to the market with reduced initial engineering costs.
Sirit's products are built on more than 16 years of RF domain expertise
addressing multiple frequencies (LF/HF/UHF), multiple protocols and are
compliant with global standards. Sirit's broad portfolio of products and
capabilities can be customized to address new and traditional RFID market
applications including Supply Chain & Logistics, Cashless Payment (including
Electronic Tolling), Access Control, Automatic Vehicle Identification, Near
Field Communications, Inventory Control & Management, Asset Tracking and
Product Authentication. For more information, visit www.sirit.com.
Cautionary Note Regarding Forward-Looking Statements
Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical fact
contained herein, the information presented constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 and Canadian provincial securities legislation. These forward-looking
statements relate to, among other things, Sirit's objectives, goals,
strategies, intentions, plans, beliefs, expectations and estimates, and can
generally be identified by the use of words such as "may", "will", "could",
"should", "would", "suspect", "outlook", "expect", "intend", "estimate",
"anticipate", "believe", "plan", "forecast", "objective" and "continue" (or
the negative thereof) and words and expressions of similar import, and may
include statements concerning possible or assumed future results, financial
outlook and/or future-oriented financial information. Although Sirit believes
that the expectations reflected in such forward-looking statements are
reasonable, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Sirit to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place undue reliance
on these forward-looking statements. Actual results may differ materially from
those indicated by these forward-looking statements as a result of risks and
uncertainties impacting Sirit's business. Important factors that could cause
actual results to differ materially from expectations include but are not
limited to: Sirit's ability to achieve commercialization and/or commercial
acceptance of its RFID technology; the evolution of, and adoption rate in, the
RFID market; Sirit's inability to expand sales both within and outside its
traditional markets; changes in Sirit's strategic relationships; Sirit's
dependence on resellers, distributors and significant customers; the utility
of research and development expenditures undertaken by Sirit; product defects;
increased levels of competition; changes in laws and regulations; foreign
exchange fluctuations; and Sirit's overall liquidity and capital resources.
These and other important risks are discussed in further detail in the section
entitled "Risks Factors" in Sirit's Annual Information Form dated March 13,
2009 and in Sirit's management's discussion and analysis found in its 2008
annual report as filed with the securities regulatory authorities in Canada
via SEDAR. Although Sirit has attempted to identify important factors that
could cause actual results to differ materially, there may be other factors
that cause results not to be as anticipated, estimated or intended. Unless
otherwise required by law, Sirit does not undertake any obligation to update
any forward-looking statements contained in this news release as a result of
new information, further events or otherwise. This cautionary statement
expressly qualifies the forward-looking information in this news release.
"Sirit", the Sirit Design and "vision beyond sight" are all trademarks of
Sirit Inc. All other names of actual companies and products mentioned herein
may be the trademarks of their respective owners.
For further information:
For further information: Anastasia Chodarcewicz, Sirit Inc., (416)