Torq Resources Inc. press release
EFKON USA Partners with Sirit for New Toll Products
TSXV - TSX Venture Exchange · Copper · Gold · Molybdenum · Iron · Canada
DALLAS, Sept. 18 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading provider of radio frequency identification ("RFID") technology, announced today that it has entered into an OEM agreement with Dallas based EFKON USA, Inc., a provider of intelligent transportation systems (ITS) and advanced vehicle communications. Under the terms of the agreement, EFKON USA will integrate Sirit's Title 21-based toll tag technology into a range of new toll products that it unveiled at the International Bridge, Tunnel and Turnpike Association's (IBTTA) 74th Annual Meeting and Exhibition, in Dallas, Texas. EFKON USA's newly announced products include Pronto(TM), a high performance toll tag system used for open road tolling, and can also be used for parking and access control; and HOTShot(TM), a battery and solar powered system for high occupancy tolling (HOT) that uses smart cards and biometric identification for virtually failsafe authentication. Sirit's underlying 915 MHz toll technology, based exclusively on the open Title 21 standard, provides the platform for these innovative solutions. "We are very pleased to partner with Sirit to leverage its expertise and integrate its technology into our new line of US electronic toll products," says Dr. John Kasik, President and CEO, Operations of Americas, EFKON USA, Inc. "We firmly believe in providing open architecture-based solutions that benefit our customers and end users by encouraging competition and allowing for interoperability among compliant systems. We envision a day in the not too distant future when national interoperability will mean open roads from coast to coast." "We welcome the opportunity to work with such an esteemed partner as EFKON USA in expanding Sirit's technology reach into new products and markets," stated Norbert Dawalibi, Sirit's President and CEO. "We are extremely impressed with EFKON USA's new products and their vision for the future." Additionally, the agreement allows for EFKON USA to incorporate and/or sell other Sirit products such as Sirit's line of IDentity automotive vehicle identification products into complementary markets including parking and access control.
About EFKON USA, Inc.
EFKON USA, Inc. is a subsidiary of EFKON AG, a global leader in Intelligent Transportation Systems and Advanced Vehicle Communications. EFKON USA develops its products on multiple open-architecture technologies that stand alone or be seamlessly integrated into existing systems to provide its customers greater choices of highly customized, interoperable solutions. EFKON USA is a single source provider with services ranging from concept and design to engineering, manufacturing and implementation. EFKON USA's products and services are designed for transportation and traffic management systems with applications in electronic toll collection; electronic payment systems with multi-faceted (contactless) smart card operations; simplified central clearing house operations; violation enforcement and processing; vehicle and driver identification; fleet management and telematics. For more information, visit www.efkonusa.com.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (RFID) technology worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 12 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Sirit's broad portfolio of products and capabilities are easily customized to address new and traditional RFID market applications including Supply Chain & Logistics, Cashless Payment (including Electronic Tolling), Access Control, Automatic Vehicle Identification, Inventory Control & Management, Asset Tracking and Product Authentication. For more information, visit www.sirit.com.
Cautionary Note Regarding Forward Looking Statements Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievement of Sirit to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Sirit's business which are discussed in the section entitled "Description of the Business - Risks Factors" in Sirit's Annual Information Form dated March 16, 2006 as filed with the securities regulatory authorities in Canada via SEDAR. Although Sirit has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. "Sirit", the Sirit Design and "vision beyond sight" are all trademarks of Sirit Inc. All other names of actual companies and products mentioned herein may be the trademarks of their respective owners.