07:59:08 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Quarterhill Inc
Symbol QTRH
Shares Issued 114,633,034
Close 2023-11-03 C$ 1.51
Market Cap C$ 173,095,881
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Quarterhill's IRD wins $4.1-million contract

2023-11-06 09:33 ET - News Release

Mr. Chuck Myers reports

INTERNATIONAL ROAD DYNAMICS AWARDED $4.1 MILLION NORTH CAROLINA WEIGH STATION MAINTENANCE CONTRACT

International Road Dynamics Inc. (IRD), a wholly owned subsidiary of Quarterhill Inc., has been awarded a three-year, $4.1-million contract by North Carolina Department of Transportation (NCDOT) to maintain, service, repair and calibrate the commercial vehicle enforcement technology located at 18 permanent and virtual truck weigh stations throughout the state. All financial information in this press release is reported in Canadian dollars.

IRD has been deploying and maintaining enforcement systems with NCDOT for more than 15 years. This new contract consolidates and expands the maintenance activities for all active systems in North Carolina into a single statewide maintenance agreement. This will enable NCDOT to optimize performance of its statewide weigh-in-motion (WIM) network and enhance enforcement of state and federal laws relating to highway and commercial vehicle operations.

The technology deployed at the 18 sites will include IRD's tire anomaly and classification system (TACS) and its WIM e-screening for commercial vehicle weights and credentials. Other technologies to be provided under this service agreement include transponder bypass, licence plate and DOT readers, thermal-imaging brake-detection systems, mainline and ramp screening, overheight detection, and dynamic message sign signalling and messaging.

Rish Malhotra, IRD's chief executive officer, stated: "We are pleased to expand our relationship with NCDOT and to have been selected as their long-term service provider for all enforcement technology needs. IRD's WIM e-screening systems and our advanced TACS are recognized as best in class and will be key components for a successful statewide enforcement and safety program."

Chuck Myers, Quarterhill's CEO, stated: "IRD's enforcement technology is a winning solution for all parties. Consolidating maintenance and technology at their 18 facilities under one agreement will enable NCDOT and the North Carolina State Highway Patrol to enhance the efficiency and effectiveness of processing large volumes of commercial vehicles. The trucking industry realizes considerable benefits through the reduction of wait times, fuel costs and greenhouse gas emissions. Most importantly, safety for all drivers is enhanced by removing unsafe trucks and oversized vehicles from the state's roadways."

About Quarterhill Inc.

Quarterhill is a leading provider of tolling and enforcement solutions in the intelligent transportation system (ITS) industry. The company's goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants LLC (ETC) and International Road Dynamics platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the Toronto Stock Exchange under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF.

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