Mexico takes action to enhance nationwide security and public safety
TORONTO, Dec. 29 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a global provider of radio frequency identification ("RFID") technology, along with its partner, Axiompass, a leading integrator and supplier of tolling equipment and RFID systems, announces that Sirit's RFID technology has been successfully installed and integrated into the first Electronic Vehicle Registration ("EVR") system in Latin America.
The EVR system represents a continuation of the initiative by the Mexican government to enhance security and safety on roads across the country. This follows the initial inauguration by Mexican President Felipe Calderon back in June 2009.
Sirit's IDentity 5100 ("ID5100") and lane controller technology read the National Public Vehicle Registry tags while cameras also capture an image of the license plate. The data is then transmitted to a central database which matches the data to vehicles of interest. This enables the various regional enforcement agencies to recognize identified vehicles on a watch list and take appropriate action as the vehicle travels along the highway. To date, forty-two lanes have been installed by Axiompass and are fully operational.
"We are thrilled to have installed the first fully functional EVR system in Latin America. We continue to find that the ID5100's flexibility and ease of installation enables a seamless integration of the new RFID system into Mexico's current infrastructure. We are very pleased with the progress and success of this project," commented Jeronimo Beltran, President, Axiompass.
"I am very excited to have Sirit's ID5100 reader and lane controller technology as an integral piece of the first operational EVR system in Latin America. This is a testament to Sirit's development efforts creating leading edge, functional and reliable RFID technology. We believe this is just the start for Mexico and other countries as the positive impact on safety and security is generated through the implementation of a full scale EVR system," added Wolf Bielas, President Latin America, Sirit.
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.
Axiompass is a leading integrator of person and vehicle identification systems in North America. Axiompass' products include automatic vehicle identification, identity management, access control, electronic documents, and secure electronic payment. Axiompass bases its technology solutions on smartcard, biometric, and RFID technology. For more information, visit www.axiompass.com.
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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.
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SOURCE SIRIT INC.
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