TagMaster receives order for delivery of RFID systems to toll stations in India
Press Release, Stockholm, Sweden 4 December 2019
TagMaster, a leading supplier of advanced sensor systems for Smart Cities within Traffic and Rail, has received an order for delivery of 340 RFID systems for road toll projects in India. The order is worth approximately SEK 3 million and delivery will take place during the fourth quarter this year.
The expansion of the road network in India to cope with the difficult traffic situation in the country is pervasive. The Indian government prioritizes infrastructure investments and tolls are an important part of financing the expansion of the road network.
TagMaster is, since eight years, one of the main suppliers for Indian toll stations. The current order concerns the delivery of a total of 340 RFID systems to a large number of multi-lane toll stations. The stations are an important part of the process of making the transport system in India more efficient.
“The order shows that our products and technology are at the forefront and more orders in India are to be expected in 2020. It also gives us the conditions to continue investing in Tolling & Security, which is a priority application area for us”, said Jonas Svensson, CEO, TagMaster.
Deliveries of the RFID systems are made during the fourth quarter of this year and the order is worth approximately SEK 3 million.
For further information, please contact
Jonas Svensson, CEO, +46 8-6321950, jonas.svensson@tagmaster.com
About TagMaster
TagMaster is an application driven technology company that designs and markets advanced sensor systems and solutions based on radio, radar, vision and magnetic technology 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 subsidies in UK, France and US 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 Nasdaq First North Growth Market in Stockholm, Sweden. TagMasters certified advisor is Erik Penser Bank phone +4684638300, E-mail: certifiedadviser@penser.se www.tagmaster.com