|By Marketwired .||
|June 26, 2014 01:40 PM EDT||
SASKATOON, SASKATCHEWAN -- (Marketwired) -- 06/26/14 -- International Road Dynamics Inc. (IRD) (TSX: IRD) announced today that it has been awarded a contract by the California Department of Transportation (Caltrans) to provide equipment maintenance, software maintenance, and on-call service for their statewide network of Weigh-in-Motion (WIM) systems at approximately 250 locations across the state. This new service agreement extends from June 20, 2014 through June 19, 2017 with a total value of CAD $5.1 Million.
This new contract provides for the maintenance of both Caltrans' commercial vehicle enforcement systems and traffic data collection systems. Commercial vehicle enforcement systems are used to screen trucks based on weights, dimensions, safety, and credentials. Traffic data collection systems provide 24-hour information at key locations on California highways. The data collected from each location includes axle and gross vehicle weights, axle spacing, vehicle classification, and speed information which is essential information for Caltrans' pavement, highway monitoring and capacity studies, accident rate calculations, and the analysis of truck transport practices.
Mr. Terry Bergan, IRD's President and CEO commented, "We are very pleased to be extending our relationship with Caltrans. IRD continues to renew our key multi-year contracts and sign significant new agreements within our service and maintenance markets around the world, increasing the recurring revenue aspects of our business and providing a solid and profitable base to support our ongoing research and development programs as we continue to evolve and provide new and innovative products and solutions to our customers."
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
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