International Road Dynamics Inc.

International Road Dynamics Inc.

January 08, 2007 08:00 ET

IRD Continues to Expand- Growing Its Manufacturing Facility

SASKATOON, SASKATCHEWAN--(CCNMatthews - Jan. 8, 2007) - International Road Dynamics Inc. (TSX:IRD) announced today that it will be expanding its manufacturing facility over the next year.

The construction of the new Manufacturing Facility will begin later this month, with expected completion date of August 2007. The new 16,700 square foot manufacturing building will be located on a 1.2 acre lot, already owned by IRD that is adjacent to its current corporate offices. This building will replace the leased facilities located at a second location in Saskatoon.

IRD has budgeted CDN $2.1 Million for this new Manufacturing Facility. Costs during the period of construction will be financed initially through a Construction Financing Facility which will subsequently be replaced by a mortgage secured by the new Manufacturing Facility as well as the existing premises. Terms of the construction and mortgage financing with RBC Royal Bank are still being finalized.

"As our products and technologies continue to win market share, we recognized that in order to meet increased demand we needed to expand our capacity," commented Terry Bergan, President and CEO. "With this project we will also be significantly enhancing our production efficiency as we will have all our design, engineering and production capabilities located in two adjacent facilities."

IRD is a highway traffic management products and systems technology company that specializes in supplying systems to the worldwide, emerging industry of Intelligent Transportation Systems (ITS). IRD is a North American-based company, with a Canadian corporate office in Saskatoon, Saskatchewan and sales and service offices throughout the U.S., and overseas. Private corporations, transportation agencies and highway authorities around the world use IRD's products and advanced traffic systems to manage and protect their highway infrastructure.

Contact Information

  • International Road Dynamics Inc.
    Terry Bergan
    President & CEO
    (306) 653-6600 or U.S. (303) 355-5998
    International Road Dynamics Inc.
    Francine Senecal-Lepage
    Investor Relations
    (306) 653-6603
    (306) 653-6609 (FAX)