International Road Dynamics Inc.

International Road Dynamics Inc.

May 06, 2009 16:30 ET

IRD Announces New Contract Awards in India Valued at CDN $ 2.75Million

SASKATOON, SASKATCHEWAN--(Marketwire - May 6, 2009) - International Road Dynamics Inc. (IRD) (TSX:IRD) announced today that its wholly owned subsidiary IRDSA (South Asia) has been awarded four contracts in India with a total value of approximately CDN $2.75 Million.

The first is a contract awarded by the Indu Group of Hyderabad, India to supply Toll Collection Systems and Highway Traffic Management Systems (HTMS) along 40 kilometers of multilane highway under a Build Own and Operate (BOT) contract. The project involves extended service and maintenance of the toll and HTMS systems subsequent to the project completion. The highway is already under construction and is expected to be opened within six months. The value of this contract is approximately CDN $850,000. The toll system includes IRD's WIM@Toll system where WeighInMotion scales are installed in toll lanes to monitor and control heavy trucks entering the highway. The HTMS system complements IRD's toll solution by providing traffic information and enhanced safety with information signs, traffic monitoring and emergency call boxes.

The second is a contract for the supply of HTMS equipment on a 40 kilometer section of highway by the MVR Group who had previously awarded IRDSA a contract involving the supply of toll system equipment for a total of 10 toll lanes of which 4 lanes would contain slow speed WeighInMotion equipment. The installation of the toll equipment is currently underway. The value of the new contract including the toll and HTMS equipment is approximately CDN $1,050,000.

The third is a contract award by Oriental Structural Engineers for the supply of 21 toll lanes. This project involves the inclusion of Electronic Toll Collection (ETC) Systems in four toll lanes. The ETC lanes will use Radio Frequency Identification technology (RFID) and is the first ever RFID based ETC project awarded in India. The contract includes the supply and provision of RFID based readers and tags as well as standard toll equipment with a total value of approximately CDN $550,000.

The fourth contract award is from Nagarjuna Construction Company (NCC) for the supply of toll equipment for ten toll lanes as well as slow speed WeighInMotion equipment for four toll lanes. This award is valued at approximately CDN $300,000.

Mr. Terry Bergan, IRD's President and Chief Executive Officer commented, "An important component of our growth strategy is to expand our presence in offshore markets where enhancing roadway and highway infrastructure is recognized as a key to economic growth. We are very pleased with the strong market position achieved by IRDSA, in both the Toll and WIM markets in India, as well as their recent venture into Highway Traffic Management Systems. We look forward to IRDSA's continued growth in this region going forward."

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)