SASKATOON, SASKATCHEWAN--(Marketwire - Dec 12, 2012) - International Road Dynamics Inc. (IRD.TO) (IRD) announced today that PAT Traffic Ltda., IRD''s wholly-owned subsidiary in Chile, has been awarded a major contract in Paraguay valued at approximately USD $3.6 million.
The contract includes the installation of new, state-of-the-art Weigh-in-Motion and related control equipment in eleven existing traffic weigh stations throughout the country, as well as a central control center connected to all the weigh stations to provide real-time station management and statistical reporting. It is anticipated the project will be completed before the end of 2013.
"This key new contract will provide Paraguay with the latest technologies and solutions to manage its roadway and highway infrastructure, an important element in the country''s economic prosperity" commented Terry Bergan, IRD''s President and CEO. "Our team in Chile continues to successfully and profitably build its installed base and reputation for high quality service and support throughout South America, and we look forward to continued growth in the region going forward."
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.