International Road Dynamics Inc.

International Road Dynamics Inc.

March 30, 2009 12:03 ET

International Road Dynamics Inc. Awarded CDN$ 4.8 Million in New Contracts in India

SASKATOON, SASKATCHEWAN--(Marketwire - March 30, 2009) - International Road Dynamics Inc. (IRD) (TSX:IRD) announced today that its whollyowned subsidiary International Road Dynamics South Asia (IRDSA) has been awarded three new contracts in India valued at approximately CDN $4.8 Million.

The first is a contract from Reliance Energy, a leading infrastructure development company in India, to provide Toll Operation & Maintenance (O&M) services on two National Highways. The new O&M contract period is initially for one year and likely extended to three years with a total value of approximately CDN $4.05 Million.

Under this contract, IRDSA will operate and maintain its own toll collection system, including providing the necessary equipment and manpower as well as preventative, scheduled and emergency maintenance services. The new contract enhances IRD service revenues and creates a new profit centre for IRDSA in India's rapidly growing highway infrastructure development market.

IRD has also been awarded two contracts to supply, install and commission a total of ten toll lanes including two Slow Speed WeighinMotion (SSWIM) Systems from Madhucon Projects for their Trichy - Thanjavur Expressway Ltd. (TTEL) as well as eighteen toll lanes from Ideal Road Builders for their Surat Bharuch toll plaza. The aggregate value for these two contracts is approximately CDN $820,000.

Mr. Terry Bergan, IRD's President and CEO, commented: "These new awards enhance our presence in overseas markets and grow our stream of recurring service revenues. We have also considerably strengthened our presence in India where increased infrastructure investment presents a significant opportunity for further growth. We have now been active in South East Asia for over 10 years, and our proven systems and service expertise bode well for further growth in the region."

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 Canada 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.

The Company's shares trade on the Toronto Stock Exchange under the symbol IRD.

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)