Sensys Gatso receives TRaaS contract extension from the City of Albany which adds School Zone Speed Enforcement worth SEK 197 million
Sensys Gatso Group, a global leader in traffic safety solutions, through its subsidiary, Sensys Gatso USA, received a 5-year contract amendment from the City of Albany, New York, to extend their current red light camera program and provide for the addition of automated school zone speed enforcement. The total contract value amounts to USD 19.7 million, corresponding to SEK 197 million over the contract period.
New York Governor Hochul signed legislation on September 28, 2023, that allows the City to use automated school zone speed enforcement.
The program will include the current red light camera systems and the monitoring of up to 20 school zones in the city. The base-term contract for the school zone speed program is estimated to be worth USD 16 million, corresponding to SEK 160 million. The contract value for the red light camera services renewal is estimated to be USD 3.7 million, corresponding to SEK 37 million. The automated school zone speed enforcement program is anticipated to begin at the opening of schools in the fall.
According to the legislative justification report as part of the bill, Albany tallied 11,283 reported school zone crashes between 2018 and 2022. Those crashes resulted in 2,109 total injuries and 11 deaths. Of the 11 deaths, five involved a pedestrian, six were motor vehicle occupants, and three were motorcycle related.
“We are very honoured that the City has placed their trust in us to continue to be their traffic safety partner.” said Sensys Gatso USA President and Managing Director, Bill Braden. “Our team is looking forward to working with the City as they add school zone speed enforcement to their traffic safety portfolio. Sensys Gatso will be providing our new camera technology as part of this expansion.”
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 09.55 on April 26, 2024.
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, Saudi Arabia, Sweden and the USA, and a branch office in the United Arab Emirates and has 302 employees. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm.
For further information, visit www.sensysgatso.com
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