TagMaster owned Balogh receives order from China
Press release, Stockholm, Sweden September 1, 2016
TagMaster, the leading supplier of advanced RFID products and ANPR cameras for vehicle identification and Rail solutions has, through its recently acquired daughter company Balogh SA, received an order for two tramway projects in China.
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 three RFID segments Rail, Access/Security (Traffic) and Industrial automation.
The order comprises products used for ATP (Automatic Train Protection), i. e. equipment used to avoid collision caused by excessive speed or missed signal information. The customer is a joint venture between one of the big European actors in signaling systems and their Chinese partner.
These products are part of the Balogh standard assortment but as often are adapted (NRE) for different projects and different customers and the order shows that Balogh has a strong product family within among other Tramway applications.
”TagMaster has earlier expressed its enthusiasm for the Balogh acquisition and this order is a first sign that our ambition, to together with Balogh become a stronger supplier within Rail solutions, is justified. We together get a wider product offering and we could together become one of the leading actors in train signaling and we will be able to take on bigger and more projects” says Jonas Svensson, CEO, TagMaster.
For further information please contact:
Jonas Svensson, CEO, +46 8-6321950, email@example.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 08:30 CET on 1 September 2016.
TagMaster is an application driven technology company that designs and markets advanced identificationsystems and solutions based on radio & vision technology (RFID & ANPR) for demanding environments. Business areas include Traffic Solutions and Rail Solutions providing innovative mobility solutions, sold under the brands TagMaster, CitySync & Balogh, 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, Middle East, Asia and North America via a global network of partners, systems integrators and distributors. 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 Remium Nordic AB. For more information about TagMaster, please visit www.tagmaster.com