SASKATOON, SK, Sept. 3, 2020 /PRNewswire/ - International Road Dynamics Inc. ("IRD" or the "Company"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (OTCQX: QTRHF), announced today that PAT Traffic (Chile) Ltda, a wholly owned subsidiary of IRD, has received a contract for the design, supply, installation and service, and the integration of two Weigh-in-Motion (WIM) systems in the Republic of Paraguay.
The stations are located on a bypass highway near Asuncion along a major truck route to a local transfer station. The stations provide state-of-the-art commercial vehicle enforcement solutions integrating WIM systems with complementary technologies such as real-time vehicle dimensioning systems and axle load and gross vehicle weight information. This is a continuation of a country wide truck compliance program utilizing IRD-PAT systems to improve truck transport efficiency while protecting the highway infrastructure.
Mr. Rish Malhotra, IRD's President and Chief Executive Officer commented, "Paraguay is deploying an integrated truck enforcement system and toll system for highway pricing and we are pleased and honoured to expand our long-standing relationship in the country. Deploying our state-of-the-art weigh stations and toll systems will ensure the efficient operation and movement of commercial vehicle traffic thus allowing for sustainable and safe transportation growth in Paraguay and the region."
IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems 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.
Quarterhill is a growth-oriented company in the Intellectual Property and Intelligent Transportation System (ITS) industries. Our goal is to pursue an investment strategy that capitalizes on attractive market trends in both ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com
This news release contains forward-looking statements regarding IRD, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by IRD and/or Quarterhill in light of their experience and perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that IRD and/or Quarterhill believe are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting IRD and/or Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus ("COVID-19"); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on IRD and/or Quarterhill and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill's February 27, 2020 annual information form for the year ended December 31, 2019 (the "AIF"). Copies of the AIF may be obtained at www.sedar.com. IRD and Quarterhill recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of IRD's forward-looking statements. IRD has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE International Road Dynamics
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