Sirit equipment enables single centralized automatic vehicle identification solution
TORONTO, Dec. 4 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a global provider of radio frequency identification ("RFID") technology, today announced that its IDentity 5100 readers and transponders have been selected for deployment on the only automated toll road in Uruguay.
Corporacion Vial del Uruguay ("CVU"), a government agency responsible for overseeing Uruguay's National Highway Concession program, has finalized plans to upgrade the Toll Collection System in all of the toll plazas operating in Uruguay, selecting Sirit IDentity 5100 readers and transponders, which are based on ISO 18000-6C open protocol and designed for long-range, high speed automatic vehicle identification ("AVI") applications.
The automated toll system installation is a cooperative effort between Telsis S.A, a Uruguay based company, and Telectronica (www.telectronica.com), a company with AVI installations in South America and Mexico, in conjunction with support from Sirit.
The selection process for the AVI system was managed by CVU, who conducted a thorough evaluation of potential AVI solutions and narrowed the equipment down to two suppliers. Both prospective systems were installed and comprehensive tests were carried out in the presence of officials and technical staff from each of the participating organizations. In the final evaluation, Sirit's IDentity 5100 solution was selected for its advanced performance and reliability.
"The selection of the Sirit IDentity 5100 readers and transponders as the solution of choice recognizes the superior performance of Sirit's AVI products and confirms the industry's move towards standards-based solutions for global AVI applications," said Wolf Bielas, President, Latin America, Sirit.
Phase one of the deployment included 12 readers and 20,000 transponders operating on Uruguay's main highway, connecting the City of Montevideo with the City of Punta del Este. At the completion of phase two of the installation by mid-2009, a total of 40 readers will be installed connecting the entire road system in Uruguay with a single centralized AVI system using Sirit readers and tags.
"What's exciting about the installation is the fact that Uruguay will be using a single RFID system enabling the use of the existing infrastructure and paving the way to deploying solutions for a number of other applications, such as parking, heavy vehicle weight systems and truck identification," said Edgardo Ventura, President, Telectronica.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (RFID) technology worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 15 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Sirit's broad portfolio of products and capabilities can be customized to address new and traditional RFID market applications including Supply Chain & Logistics, Cashless Payment (including Electronic Tolling), Access Control, Automatic Vehicle Identification, Near Field Communications, Inventory Control & Management, Asset Tracking and Product Authentication. For more information, visit www.sirit.com.
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Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian provincial securities legislation. These forward-looking statements relate to, among other things, Sirit's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "suspect", "outlook", "expect", "intend", "estimate", "anticipate", "believe", "plan", "forecast", "objective" and "continue" (or the negative thereof) and words and expressions of similar import, and may include statements concerning possible or assumed future results, financial outlook and/or future-oriented financial information. Although Sirit believes that the expectations reflected in such forward-looking statements are reasonable, such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Sirit to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Sirit's business. Important factors that could cause actual results to differ materially from expectations include but are not limited to: Sirit's ability to achieve commercialization and/or commercial acceptance of its RFID technology; the evolution of, and adoption rate in, the RFID market; changes in Sirit's strategic relationships; Sirit's dependence on resellers, distributors and significant customers; the utility of research and development expenditures undertaken by Sirit; product defects; increased levels of competition; changes in laws and regulations; foreign exchange fluctuations; and Sirit's overall liquidity and capital resources. These and other important risks are discussed in further detail in the section entitled "Risks Factors" in Sirit's Annual Information Form dated March 14, 2008 and in Sirit's management's discussion and analysis found in its 2007 annual report as filed with the securities regulatory authorities in Canada via SEDAR. Although Sirit has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Sirit does not undertake any obligation to update any forward-looking statements contained in this news release as a result of new information, further events or otherwise. This cautionary statement expressly qualifies the forward-looking information in this news release.
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