IRVINE, Calif., June 24 /PRNewswire-FirstCall/ -- Federal Signal Technologies' group company PIPS Technology Limited ("PIPS"), a global provider of camera technology, announces that it has entered into a contract with Konlakorn Co. Limited of Bangkok to supply PIPS' latest integrated ALPR camera technology for the Government of Thailand's Electronic Vehicle Registration (EVR) Systems project.
The initial order value of US$0.5 million for delivery and installation by October 2010 is expected to lead to revenue of up to $6 million over the next three years as Konlakorn expands the EVR project nationwide in Thailand.
The Thailand EVR project is expected to utilize hundreds of PIPS cameras over the next several years. The cameras will be deployed on highway gantries alongside Federal Signal Technologies' Sirit ID5100 tag readers already being supplied for the project through Sirit's partner, MIKOH (AVI) Pty Limited, a subsidiary of MIKOH Corporation Ltd. The EVR project is also expected to use more than 30 million Sirit tags.
"We are excited to supply PIPS' best-in-class camera technology to Somapa for the Government of Thailand's EVR project," said William Osborne, Federal Signal's President and Chief Executive Officer. "Assuring a truly secure EVR System through the use of Sirit's tags and readers was key to the first stage of Federal Signal Technologies' involvement in this project. Now, the addition of PIPS' ALPR cameras will further contribute to the EVR project's data collection performance and integrity for vehicle registration, insurance and other compliance matters. It also offers an opportunity to contribute substantially to national security."
The challenge met by PIPS Technology was to provide a reliable, secure and affordable solution. After researching and testing various options, it became clear that PIPS' newly-introduced P392 'Spikelet' integrated ALPR camera products were perfect for the task.
PIPS' ALPR cameras are already widely used in around 40 countries worldwide for policing and security in addition to numerous road-user charging, tolling and EVR applications. These include London's congestion charging scheme and the pioneering Bermuda EVR system.
About PIPS Technology
PIPS Technology is an industry leader in the development and manufacture of Automated License Plate Recognition Systems ("ALPR"). PIPS' broad range of ALPR products provide the next generation solutions for Travel Time Measurement, Law Enforcement, Tolling, Congestion Charging, Access Control, Traffic Monitoring and Automated Site Security Solutions. With over 18,000 cameras deployed globally, PIPS has a wide range of patents covering ALPR technology and its application.
About Federal Signal
Federal Signal Corporation (NYSE: FSS) enhances the safety, security and well-being of communities and workplaces around the world. Founded in 1901, Federal Signal is a leading global designer and manufacturer of products and total solutions that serve municipal, governmental, industrial and institutional customers. Headquartered in Oak Brook, Ill., with manufacturing facilities worldwide, the Company operates three groups: Safety and Security Systems, Environmental Solutions and Fire Rescue. The Company is creating a fourth group, Federal Signal Technologies. For more information on Federal Signal, visit: http://www.federalsignal.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains unaudited financial information and various forward-looking statements as of the date hereof and we undertake no obligation to update these forward-looking statements regardless of new developments or otherwise. Statements in this release that are not historical are forward-looking statements. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include but are not limited to: economic conditions in various regions, product and price competition, supplier and raw material prices, foreign currency exchange rate changes, interest rate changes, increased legal expenses and litigation results, legal and regulatory developments and other risks and uncertainties described in Federal Signal's filings with the Securities and Exchange Commission.
SOURCE Federal Signal Corporation