Sensys Gatso receives an order from Ecuador, worth SEK 20 million
Sensys Gatso Group, a global leader in traffic safety solutions, through its subsidiary Sensys Gatso LATAM, has received an order for the supply and support of traffic enforcement systems from its partner to be implemented in the municipalities of Mancomunidad and Santa Elena, Ecuador. The order has a value of approximately SEK 20 million. This is the second order for Sensys Gatso in Ecuador, in the strategic LATAM Region, after the Duran project.
The Municipalities of Mancomunidad and Santa Elena in Ecuador and our partner are cooperating in a consortium to implement a comprehensive traffic enforcement program that includes speed enforcement cameras. These enforcement systems will be implemented at key intersections in Mancomunidad and Santa Elena. Sensys Gatso LATAM will supply the enforcement systems to its partner. The programs are expected to be fully installed and operational by the first quarter of 2023, with delivery from Sensys Gatso to its partner in the fourth quarter of 2022. The transaction to our partner is done on a financial lease basis of 18 months, after which the equipment will be transferred in ownership to our partner. Revenues will be realised at delivery of the equipment.
Sensys Gatso has established Sensys Gatso LATAM to be able to enter into the different markets in the LATAM region. This second order in the new market Ecuador, after the project in Duran, is the result of the increased sales activities in this strategic region.
In November 2021 Sensys Gatso announced its first order from Ecuador for red-light enforcement in the territory of Duran. The Duran program is expected to be fully installed and operational by the fourth quarter of 2022. Sensys Gatso’s proven technology provides a reliable system to measure speed. Therefore it greatly influences driving behaviour and has a direct impact on road safety.
“We are pleased that our partner in Ecuador keeps reinforcing its presence in the traffic enforcement sector with the awarding of these two contracts. Ecuador is determined to improve road safety through automated traffic enforcement projects and Sensys Gatso is fully committed to support that effort”, says Alvaro Nogueroles, Managing Director Sensys Gatso LATAM.
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, at 08.45 on 16 September, 2022.
For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
E-mail: 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 263 employees. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm.
For further information, visit www.sensysgatso.com
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