NewsCNW Group Portfolio E-Mail
SIRIT INC.
Transmitted by CNW Group on : October 25, 2006 08:47
Sirit's Automatic Vehicle Identification Solution Chosen by a Major Automotive Company
TORONTO, Oct. 25 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading
provider of radio frequency identification ("RFID") technology, announced that
it has signed a contract with a major automotive company to provide Sirit's
IDentity MaX portfolio of readers and customized software suite to identify,
track and secure its vehicles.
Sirit will deliver a comprehensive closed loop solution comprised of more
than 500 gate, desktop and mobile RFID IDentity MaX readers for automatic
vehicle identification (AVI) as well as customized Microsoft-based system
software solutions. The initial rollout, valued at more than $1 million, will
be installed from November 2006 through April 2007.
The Solution
As vehicles are added to a store's assets, Sirit IDentity MaX desktop
readers will be used to encode an RFID tag which will then be affixed to the
car to allow for automatic vehicle identification until the vehicle is sold.
IDentity MaX gate readers will be used to monitor when a vehicle is
removed from the lot, providing a secure method of monitoring the flow of
assets.
The IDentity MaX mobile reader, mounted to a vehicle, will track the
location of vehicles throughout the company's lot daily.
"This win is the largest commercial installation of our new IDentity MaX
system, launched earlier this year," commented John Freund, Vice President,
AVI Solutions, Sirit Inc. "MaX has been met with tremendous interest from
customers and vendors alike who continue to look for ways to add efficient and
cost effective technologies that go beyond traditional access control
systems."
"At the heart of the solution is Sirit's 12 years of RFID expertise and a
team that is focused on providing customers - whether they are end users or
OEM partners - with full support to realize solutions that meet and exceed
their expectations," continued Freund. "This particular contract is an
excellent example of a client accessing all aspects of our RFID design and
integration capabilities."
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency
Identification (RFID) technology worldwide. Harnessing the power of Sirit's
enabling-RFID technology, customers are able to more rapidly bring high
quality RFID solutions to the market with reduced initial engineering costs.
Sirit's products are built on more than 12 years of RF domain expertise
addressing multiple frequencies (LF/HF/UHF), multiple protocols and are
compliant with global standards. Sirit's broad portfolio of products and
capabilities are easily customized to address new and traditional RFID market
applications including Supply Chain & Logistics, Cashless Payment (including
Electronic Tolling), Access Control, Automatic Vehicle Identification,
Inventory Control & Management, Asset Tracking and Product Authentication. For
more information, visit www.sirit.com.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical fact
contained herein, the information presented constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Sirit to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place undue reliance
on these forward-looking statements. Actual results may differ materially from
those indicated by these forward-looking statements as a result of risks and
uncertainties impacting Sirit's business which are discussed in the section
entitled "Description of the Business - Risks Factors" in Sirit's Annual
Information Form dated March 16, 2006 as filed with the securities regulatory
authorities in Canada via SEDAR. Although Sirit has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
intended.
"Sirit", the Sirit Design and "vision beyond sight" are all trademarks of
Sirit Inc. All other names of actual companies and products mentioned
herein may be the trademarks of their respective owners.