SASKATOON, SASKATCHEWAN--(Marketwired - Aug. 12, 2014) - International Road Dynamics Inc. (IRD) announced today that its wholly owned subsidiary in Santiago, Chile, PAT Traffic Ltda. has been awarded the renewal of a contract by Direccion Nacional de Vialidad, MOP Chile, for the maintenance and service of IRD-PAT Automated Truck Weigh Stations installed by IRD since 1980. The contract, valued at approximately CAD $3,400,000, includes the maintenance and service of twenty-five IRD-PAT Chile Weigh Stations installed throughout the country The contract extends over the next forty-eight months and is a renewal of a contract held by PAT Traffic Chile since 1998 through numerous renewals. Throughout this period and the renewal process, the contracts have included upgrades to the latest advancements in truck inspection processes and technologies.
PAT Traffic Chile's expertise and experience in providing and maintaining WIM systems allows the customer to receive a complete package of service from one vendor. PAT Traffic Chile, as member of the IRD group, offers the design, manufacturing, installation and maintenance of Weigh-In-Motion, Traffic Data, Toll, Automatic Access Control and other complementary ITS Systems. The IRD-PAT Service Support Team has over twenty years of technical and customer service experience and is able to manage all operational and technical needs to maintain the station fully operational during the term of the contract.
Mr. Terry Bergan, IRD's President and Chief Executive Officer commented: "We are very proud to be extending our long term relationship with the MOP as they implement the latest technologies in an already very advanced truck enforcement program based on IRD's industry-leading technologies. Our Chilean subsidiary continues to expand its presence throughout Latin America, and we look for further growth 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 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.
IRD is listed on the TSX - trading symbol - IRD