Business
Sirit Secures US$4.8M Annual RFID Transponder Supplier Contract
Sirit Secures US$4.8M Annual RFID Transponder Supplier Contract.
About this update from Torq Resources Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, May 10 /CNW/ - Sirit Inc. (TSX: SI), a leading provider of radio\nfrequency identification (RFID) technology, announced today that it has been\nawarded, through a competitive bid process, an order valued up to\nUS$4.8 million from the Bay Area Toll Authority ("BATA") in California.\n\n\nCommencing in July 2007, the contract calls for Sirit to continue to\ndeliver its Title 21-based toll transponders. The year-long contract extends\nSirit's supplier relationship with BATA which originally began in 2004.\nAdditionally, terms of the contract grant BATA the option to add on\ntransponder orders to a maximum of US$1.6 million once the initial contract\nhas been satisfied.\n\n\n"Sirit continues to be a strong partner in helping us meet our goals of\ngrowing the customer base of toll users in the Bay Area," commented Linda Lee,\nFasTrak(R) Project Manager for BATA. "We look forward to working with the\nSirit team throughout the coming year and thank them for their outstanding\nsupport over the past three years."\n\n\n"BATA continues to drive new user demand with innovative programs and\ndistribution strategies aimed at growing their customer base," commented John\nFreund, Vice President, AVI Solutions, Sirit Inc. "We are thrilled to be the\nsuccessful supplier and to be able to continue to provide our toll transponder\ntechnology to BATA for yet another year."\n\n\nAbout Sirit Inc.\n\n\nSirit Inc. (TSX: SI) is a leading provider of Radio Frequency\nIdentification (RFID) solutions worldwide. Harnessing the power of Sirit's\nenabling-RFID technology, customers are able to more rapidly bring high\nquality RFID solutions to the market with reduced initial engineering costs.\nSirit's products are built on more than 13 years of RF domain expertise\naddressing multiple frequencies (LF/HF/UHF), multiple protocols and are\ncompliant with global standards. Sirit's broad portfolio of products and\ncapabilities are easily customized to address new and traditional contactless\nmarket applications including Near Field Communication, Supply Chain &\nLogistics, Cashless Payment (including Electronic Tolling), Access Control,\nAutomatic Vehicle Identification, Inventory Control & Management, Asset\nTracking and Product Authentication.\n\n\nCautionary Note Regarding Forward Lookin...