TagMaster owned Balogh receives a further order on their new SIL 4 product platform
Press release, Stockholm, July 11, 2019
TagMaster, the leading supplier of advanced sensor systems for Smart Cities within Traffic and Rail, has, through its subsdiary Balogh SA, received an order for an American metro project.
Balogh is one of the real pioneers in the RFID technology and was founded in 1958. Balogh today has offices for development and production in Paris, in Toulouse and in Normandie and works within the two RFID segments Rail and Access/Security (Traffic).
The order comprises the new product range of MOS200/OMS201 (SIL4) products that have been finalized since TagMaster acquire the company. SIL4 (Safety Integrity Level) is the highest level of risk reduction that can be obtained through a Safety Instrumented Function/System.
Prior to this order Balogh have also begin deliveries of this product range to another American project and recently to a European project. This second American order gives a strong reference for future orders. The products will be delivered during first half of 2020 and the total order value is approximately € 300 000.The customer is a one of the major global actors in signaling systems.
”TagMaster has earlier expressed its enthusiasm for the Balogh acquisition and this orders confirms that our ambition that, together with Balogh, become a stronger supplier within Rail solutions is materializing. We together have a wider product offering and we will together become one of the leading actors in train signaling” says Jonas Svensson, CEO, TagMaster.
For further information please contact:
Jonas Svensson, CEO, +46 8-6321950, jonas.svensson@tagmaster.com
This information is information that TagMaster AB 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 9.00 CET on July 11, 2019.
About TagMaster
TagMaster is an application driven technology company that designs and markets advanced sensor systems and solutions based on radio and vision technology (RFID, Radar and ANPR) for demanding environments. Business areas include Traffic Solutions and Rail Solutions sold under the brands TagMaster, CitySync, Balogh, CA Traffic, Magsys, Hikob and Sensys Networks with innovative mobility solutions in order to increase efficiency, security, convenience and to decrease environmental impact within Smart Cities. TagMaster has dedicated agencies in the US and in China and exports mainly to Europe, The Middle East, Asia and North America via a global network of partners and systems integrators. TagMaster was founded in 1994 and has its headquarters in Stockholm. TagMaster is a public company and its shares are traded on First North stock exchange in Stockholm, Sweden. TagMasters certified advisor is Erik Penser Bank phone +4684638300, E-mail: certifiedadviser@penser.se www.tagmaster.com