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Sensys Gatso receives final payment for first order from Tahakom, Saudi Arabia
03-08-2021
On September 24th 2018 Sensys Gatso, a global leader in traffic safety solutions, announced the receipt of a first order for in-vehicle systems worth SEK 66 million, from our customer Tahakom in Saudi Arabia. Today the final payment was received, marking the completion of this first order.
The execution and rollout of projects characterized by this size and solution/product type in combination with complex customer and end customer networks in a dynamic market is challenging, but highly rewarding once completed.
Although this complexity can sometimes slow down deliveries, it is more important that the progress happens steadily and correctly, in order to ensure customer satisfaction.
This important milestone marks the completion of the first order and enables both Sensys Gatso and Tahakom to focus on the ongoing and much larger second in-vehicle order worth SEK 275 Million, received on August 3rd 2020.
“I am really happy with the development of our business in KSA. To further accelerate ongoing and future projects, while continuing to build on the good relationships with Tahakom, we are in the midst of establishing a subsidiary and hiring our first staff in Saudi Arabia, an investment reflecting the importance of this market for us”, says Saman Alae Naziri, Regional Director, Sensys Gatso Middle East.
This information is information that Sensys Gatso Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.45 on August 3, 2021.
For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
E investors@sensysgatso.com
Sensys Gatso Group AB is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso Group has subsidiaries in Australia, Costa Rica, Germany, the Netherlands, Sweden and the USA, and a branch office in the United Arab Emirates and has 252 employees. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm.