New Golden Ears Bridge expands Sirit's western North America tolling
TORONTO, Feb. 18 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a global
provider of radio frequency identification ("RFID") technology, today
announced that it has received the order for RFID Title 21 ("T-21") toll
equipment to be installed on the Golden Ears Bridge near Vancouver, British
Beginning in Q1 2009, Sirit will provide toll readers and transponders
along with installation services for the Golden Ears Bridge Project which will
link Maple Ridge and Pitt Meadows with Surrey and Langley, British Columbia.
The contract was awarded to InTranS Group (a CS Group company), a member of
the V-Flow consortium, the project system integrator, who partnered with Sirit
to provide the RFID toll technology. The initial contract is valued at
approximately US$300,000 and includes T-21 lane equipment, lane level
installation for six (6) high speed open road tolling lanes and 5,000 T-21
transponders. The customer plans to deploy in excess of 20,000 transponders in
the first 12 months of operation.
"We are very excited to be part of this important Canadian project which
will improve travel times and reduce regional congestion in the lower mainland
of British Columbia," said John Freund, Vice President Sales, Sirit Inc. "It
also represents the first RFID T-21 toll installation in British Columbia and
Canada. By selecting our T-21 based toll products and leveraging our knowledge
and expertise, InTranS will ensure delivery of a high performance, open
standard, toll solution for their customer for many years to come," added Mr.
"We are excited to have won this project and are pleased to have Sirit on
our team," said Michael Conlon, InTranS Project Manager. "Sirit has a strong
legacy in tolling systems and unique expertise in the design, development and
installation of T-21 toll technology. We look forward to working with them on
the Golden Ears Bridge Project," added Mr. Conlon.
The Golden Ears Bridge Project is approximately fourteen kilometers in
length and includes a six-lane, one kilometer-long span across the Fraser
River, new arterial roads connecting the bridge to the existing road network
on both sides of the Fraser River, and municipal road upgrades to improve
traffic flow. Construction began in summer 2006, with a scheduled opening date
of summer 2009.
The Golden Ears Bridge crossing will open up access to employment,
markets, services, facilities and recreational opportunities and connect
communities by providing new travel choices for transit users, cyclists and
About InTranS Group
InTranS Group is a leading ITS and Tolling Systems Integrator
headquartered in Long Island, New York with offices throughout the US,
Caribbean and North America. InTranS is a member of the CS global
organization. With more than 3,000 employees in over 20 countries worldwide,
CS is a major player in the design, integration and operation of
high-performance mission-critical systems. CS - InTranS a culture of
commitment. For more information, visit www.intransgroup.com.
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 15 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; 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 14, 2008 and in
Sirit's management's discussion and analysis found in its 2007 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. 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: Tawnya Clark, Sirit Inc., (619) 393-2645,