SASKATOON, SK, Sept. 3, 2020 /CNW/ - 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."
About IRD
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.
About Quarterhill
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
Forward-Looking Information
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