Business
Sirit Selected for US$10.6M Renewal Toll Contract
Sirit Selected for US$10.6M Renewal Toll Contract.
About this update from Torq Resources Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, June 7 /CNW/ - Sirit Inc. (TSX: SI), a leading provider of radio\nfrequency identification (RFID) technology, announced today that it has been\nnotified of the intent to award a contract worth approximately US$10.6 million\nover three years from the Transportation Corridor Agencies ("TCA") in Southern\nCalifornia. Upon Board approval, Sirit will enter into an agreement to supply\nits Title 21-based RFID transponders following the completion of the existing\ncontract. Sirit anticipates the new contract to be approved on or about\nJune 14, 2007 with shipments to begin in July 2007.\n\n\n"Sirit is proud to be the successful bidder for this contract and to\ncontinue our strong partnership in supplying our RFID toll technology to TCA,"\ncommented John Freund, Vice President, AVI Solutions, Sirit Inc. "Sirit\ncontinues to be the only Company in North America to offer toll solutions\nbased solely on an open standard which compels us as an organization to\ncompete every day by providing best in class technology, pricing and service\nto our customers."\n\n\n"Sirit continues to be an important partner to the success and growth of\nTCA's toll system in Southern California," stated David Armijo, Chief Toll\nOperations Officer, Transportation Corridor Agencies. "A key aspect to Sirit's\nsuccessful bid was their track record in providing TCA with cost competitive\nproducts and superior customer service. We look forward to extending our 10\nyear relationship with this industry leader."\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, Inve...