International Road Dynamics Inc.
TSX : IRD

International Road Dynamics Inc.

December 11, 2006 14:49 ET

IRD and Scientex Announce New Patent Licensing Arrangement

SASKATOON, SASKATCHEWAN--(CCNMatthews - Dec. 11, 2006) - International Road Dynamics Inc. (TSX:IRD) (IRD) and The Scientex Corporation (Scientex) announced today that they have reached a new licensing arrangement with reference to Scientex's patent on certain products used in IRD's portable work zone safety installations. IRD and Scientex both offer traffic safety products which are used to monitor, communicate and direct traffic to reduce potential hazards and delays within highway work zones through the use of warning light systems and dynamic message signs. The agreement contains an upfront license fee of USD $125,000 to be paid immediately to Scientex, USD $50,000 in 2007 and USD $40,000 in 2008, as well as an 8% royalty on sales within the United States on the sale of work zone safety system solutions.

"We are pleased to have reached this new arrangement with Scientex, and look forward to leveraging their patents and products to build our presence in the niche highway work zone safety business within North America," commented Mr. Terry Bergan, President and CEO.

Dr. Eddie Neal, Scientex's CEO, said "The licensing arrangement with IRD provides additional protection for Scientex's intellectual property and affords both companies a unique opportunity to exploit a rapidly expanding ITS market. The traffic mitigation and safety benefits of Scientex's technology are well established and State DOTs are demanding our technology for their construction work zone and safety applications."

The Scientex Corporation is a 26 year old transportation research and technology company. It introduced its Adaptir™ technology in 1997 and has since deployed the technology nationwide as an automated, real-time motorist information and traffic control system for construction work zone, freeway speed management, and dynamic traffic merging applications.

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.

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
    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