Saskatoon, SK June 27th, 2006 – International Road Dynamics Inc. (IRD) announced today that PAT Traffic Sistemas de Transporte Inteligente Ltda (PAT Traffic Brazil) of São Paulo has received a contract from the Brazilian Federal Department of Transport Infrastructure (DNIT) for the refurbishment of 20 Weigh-In-Motion (WIM) stations, and the maintenance of a further 13 WIM stations on federal highways, for a total of approximately $8.46 million (CAD $4.2 million).
IRD acquired a 40% interest in PAT Traffic Brazil following its purchase of the worldwide PAT Traffic business in the fall of 2003.
The 13 stations to be covered by the new maintenance contract were refurbished successfully last year under a similar contract with the DNIT. This new contract is scheduled to be completed within 12 months and will utilize equipment and services supplied primarily by PAT Traffic Ltda, IRD’s 100% subsidiary located in Santiago, Chile.
Mr. Terry Bergan, IRD President and CEO stated, “The award of this contract is the continuation of the refurbishment program by the DNIT to modernize the largest network of WIM stations outside North America. The efforts of PAT Traffic Brazil, PAT Traffic Chile and IRD to provide the DNIT a cost-effective solution for their WIM enforcement requirements has led directly to this new contract and with a network of some 70 DNIT stations across Brazil, we anticipate our strong presence in the region will lead to further business 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 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.
