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Update regarding the project in Latvia
29-04-2016
Sensys Gatso Group, a global leader in traffic safety solutions, has been informed that the contract signing in the Latvian project that was disclosed through a press release on April 11, 2016, has been delayed.
As previously announced Sensys Gatso Group, together with its local partner RECK, have been selected by the Latvian Road Traffic Safety Directorate (CSDD) in a tender for traffic enforcement equipment. The award notice states that a contract shall be signed between the Company and CSDD before the end of April 2016, subject to a formal process. The Company has been informed that a competitor has filed an appeal in accordance with this formal process, which has resulted in a delay of the signing of the contract. The Company assesses the risk of not concluding the contract to be low. Sensys Gatso Group will publish updates in relation to any material change to the status of this award.
The contract will be valid for two years of which EUR 2.5 million of Turn-key project relates to the part of speed measurement equipment from Sensys Gatso Group.
For more information:
Johan Frilund, EVP Corporate Development
M +46 732-742 823
E j.frilund@sensysgatso.com
Sensys Gatso is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso has subsidiaries in Australia, Germany, the Netherlands, Sweden, and the USA, and a branch office in the United Arab Emirates. The Sensys Gatso Group’s shares are listed at NASDAQ Stockholm. The Group has 154 employees and is the result of a merger of Sensys Traffic AB and Gatso Beheer B.V. following Sensys Traffic’s acquisition of Gatso Beheer.