Q-FREE – FRAME AGREEMENT FOR TAGS IN PORTUGAL
Q-Free has signed a frame agreement for tags (OBUs) from Via Verde, - the only tag issuer in Portugal. The order has a minimum value of approximately 17 MNOK and will be supplied within two years.
Via Verde is a part of the Brisa Group, which is one of Portugal`s leading concessionaires.
Brisa has been a customer of Q-Free since 1994 and Q-Free has delivered more than 2.4 million tags, ETC equipment and back office system to Brisa over the years.
“The tag market in Portugal is expected to grow in the coming years for several reasons. Old tag technology is expected to be substituted by the newest technology, conversion of shadow tolling roads to real tolling will continue and not at least due to the potential electronic licence plate program in Portugal. In this respect it is very important for Q-Free to be Via Verde’s preferred tag supplier and the first company ever to deliver the newest tag technology in Portugal”, CEO in Q-Free Øyvind Isaksen comments.
Q-Free has a subsidiary in Lisbon, Portugal.
Trondheim 25th of May 2010.
For further information, please contact: CEO Øyvind Isaksen, cell: +47 905 59 401 CFO Roar Østbø, cell: +47 932 45 175
About Q-Free Q-Free is a leading global supplier of solutions and products for Road User Charging and Traffic Surveillance having applications mainly within electronic toll collection for road financing, congestion charging, truck-tolling, law enforcement and parking/access control. Q-Free offers solutions and products based on state of the art technology, and is the leading supplier within DSRC (tag) - and ALPR (Automatic License Plate Registration) and GNSS (Global Navigation Satellite System) based solutions, with deliveries in Europe, Asia-Pacific, Middle East and North- and South America. The company has appr. 300 employees in 11 locations and representatives in 7 other countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR. http://www.q-free.com
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