SASKATOON, SASKATCHEWAN--(Marketwired - Feb. 14, 2017) - International Road Dynamics Inc. (TSX:IRD) announced today that the New York State Department of Transportation (NYSDOT) has awarded the Company a five-year Traffic Data Collection Installation and Maintenance contract valued at USD $7.34 million. Under this agreement, IRD will install, upgrade, repair, operate, and maintain permanently installed traffic data collection sites located within the state of New York.
There are six types of Traffic Data Collection sites covered under this contract, including Continuous Count (CC), Automatic Vehicle Classification (AVC), Weigh-in-Motion (WIM), Permanent Short Count (PSC), Wireless Vehicle Detection Systems, and Shared Traffic Data Collection Sites.
The NYSDOT uses these sites to collect, summarize, and interpret information about the traffic traveling on the State's highways system. The data is required to assess transportation needs and infrastructure performance, as well as to develop planning and programming recommendations.
"We are pleased to receive this long term commitment to provide installation and maintenance services to the State of New York. This agreement complements the award IRD previously obtained for permanent traffic data collection maintenance and upgrades within New York City and Long Island," commented Terry Bergan, IRD's President and CEO. "Contracts such as this add to our recurring revenues and align with our corporate strategy to pursue growth in our expanding Maintenance and Data Services business."
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.
IRD is listed on the TSX - trading symbol - IRD