International Road Dynamics Inc.
TSX : IRD

International Road Dynamics Inc.

May 07, 2009 08:11 ET

International Road Dynamics and IPICO Sign Exclusive Agreement for EVI in Latin America

SASKATOON, SASKATCHEWAN AND BURLINGTON, ONTARIO--(Marketwire - May 7, 2009) - International Road Dynamics Inc. (TSX:IRD) and IPICO Inc. announced today that they have entered into a strategic relationship under which IRD will have the exclusive right to market and sell IPICO's range of Electronic Vehicle Identification (EVI) Radio Frequency Identification Device (RFID) systems throughout Mexico, Central and South America. Under this agreement IRD will also be IPICO's preferred distributor in India and certain other countries in the Indian Subcontinent, West Africa and Nigeria.

IPICO's EVI products will be offered by IRD in order to expand and diversify their own road and vehicle management solutions within certain international markets in which IRD has already established a strong presence.

IPICO's IP-X Technology and EVI products satisfy an increasing global demand for low cost, robust solutions designed to ensure secure and efficient toll collection, traffic management, vehicle identification, access and congestion charging and other vehicle applications. The IPICO EVI system consists of passive RFID tags, and readers built around ISO 18000 standards and the IPICO IP-X protocol, supported by encryption and authentication technologies that provide for multiple levels of security and protection. IPICO's solutions are field-tested and delivers increased speed of read, and in combination with IRD's products offer a standardized platform for a cost effective integrated Intelligent Transportation Systems deployment.

Terry Bergan, IRD President and CEO, commented: "We are very pleased to be entering into this exclusive strategic arrangement with IPICO. Their EVI solutions complement our own products and will enable us to expand our sales and further penetrate a number of markets where we are already selling and supporting our traffic management systems."

Gordon Westwater, CEO of IPICO added: "We recognized that the fastest way to meet the growing demand for our own EVI solutions required a well-positioned partner with established relationships in key global markets. IRD is a well respected name in the traffic management business, and is now able to offer its current and new clients the significant benefits provided by IPICO's advanced technology. For IPICO, this strategic agreement allows us to grow much faster and to immediately satisfy a much broader international client base."

This news release contains certain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations and results, including, without limitation, statements as to sales forecasts and required minimum future revenues. Any statements in this news release that are not statements of historical fact may be considered to be forward-looking statements. Written words such as "may", "will", "expect", "believe", "anticipate", "estimate", "intends", "goal", "objective", "seek", "attempt", "suggest" or variations of these or similar words, identify forward-looking statements. These statements by their nature are estimates of future results only. Actual results could differ materially from those contained in the forward-looking statements and are based on current expectations that involve substantial risks and uncertainties, including but not limited to the failure to meet market growth, order volume, delivery commitment or minimum revenue expectations, political intervention, and those other risks and uncertainties detailed from time to time in IPICO's periodic reports filed on SEDAR (www.sedar.com).

ABOUT INTERNATIONAL ROAD DYNAMICS INC.: 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 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. For further information, please visit www.irdinc.com.

ABOUT IPICO Inc.: IPICO Inc. is an RFID solution supplier with operations in Canada, USA, South Africa, Europe, Asia and Australia. IPICO produces smart labels and tags based on the IP-X communication protocol. IPICO's low interference readers are designed to meet regulatory requirements in many major markets, and allow for multi-reader rollout in close proximity. IPICO's low cost RFID products excel at long read range, fast multi-read anti-collision and high thru-beam read-speeds of dynamic tag populations. These products are used to optimize the management of items, people, animals and processes within the logistic supply chain and other value chains. For further information, go to www.ipico.com.

Contact Information

  • International Road Dynamics Inc.
    Terry Bergan
    President & CEO
    (306) 653-6600 or U.S. (303) 355-5998
    or
    International Road Dynamics Inc.
    Francine Senecal-Lepage
    Investor Relations
    (306) 653-6603
    (306) 653-6609 (FAX)
    Email: irdir@irdinc.com
    Website: www.irdinc.com
    or
    IPICO Inc.
    Gordon Westwater
    President & CEO
    (905) 631-6310
    Email: gordon.westwater@ipico.com
    Wesite: www.ipico.com