Saskatoon, SK July 5, 2011 - International Road Dynamics Inc. (IRD) announced today that the New York State Department of Transportation (NYSDOT) has awarded the Company two Traffic Monitoring System contracts. The initial two year contracts are valued at CDN $2,371,800 with three optional one year extensions for a potential total duration of five years with a total value of CDN $5,929,500. Under this agreement, IRD will install, upgrade, repair, operate, and maintain the NYSDOT data collection sites.
There are four types of Traffic Data Collection sites within the contract, including Continuous Count, Automatic Vehicle Classification (AVC), Weigh-in-Motion (WIM), and Permanent Short Count. The scope is to provide overall repair and maintenance services for these existing sites, as well as the installation of new sites to enhance the NYSDOT Data Collection Program.
NYSDOT collects, summarizes, and interprets information about traffic traveling on the State’s Highway System. The data is used to assess transportation needs and highway infrastructure performance, as well as to develop highway planning and programming recommendations. Traffic data is also important for route planning and the design of highway projects.
“We are pleased to receive these long term contracts to provide repair and maintenance services to the State of New York. IRD has participated in similar agreements with the NYSDOT over the past ten years and we look forward to continuing this relationship and delivering value to our customers,” commented Terry Bergan, IRD’s President and CEO. “These contracts also further strengthen our long-term service and maintenance revenues, a key platform in our growth strategy.”
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.
- 30 -
The Company’s shares trade on the Toronto Stock Exchange under the symbol IRD.
FOR MORE INFORMATION PLEASE CONTACT:
President & CEO
Phone: (306) 653-6600
U.S. (303) 355-5998
Phone: (306) 653-6603
Fax: (306) 653-1454
IRD is listed on the TSX - trading symbol - IRD