SAN DIEGO, CA--(Marketwired - April 24, 2014) - Neology, a wholly owned subsidiary of Smartrac N.V., and leader in secure high-value Radio Frequency Identification (RFID) solutions, today announced that its subsidiary, Controles Electromecánicos, has been awarded a contract for the supply, installation, and implementation of 18 toll collection plazas in Honduras. The system will be divided into multiples of six lanes for the cities of Zambrano, Siguatepeque and Yojoa, including the installation of both normal and reversible lanes, a control center for each plaza and a central operational control center in the city of Tegucigalpa. The system will allow for toll collection manually, with a proximity card and card reader and with an RFID tag and reader. Controles Electromecánicos has partnered with Concesionaria Vial Honduras to provide this system for the Honduran government agencies Secretaria de Obras Públicas, Transporte y Vivienda and Comisión para la Promoción de Alianzas Público Privadas.
"Controles Electromecánicos has a strong foundation of toll systems integration, installation, and maintenance in Latin America," says Francisco Martinez, CEO of Neology. "The contract award marks a significant step to further expand Neology's growing Electronic Toll Collection solution and products."
About Controles Electromecánicos:
Controles Electromecánicos, leader in the tolling industry in Latin America, has developed and integrated products and solutions for the tolling industry for more than 20 years, providing lane control systems integration, installation and maintenance. Controles Electromecánicos was acquired by Neology in 2012 as part of a strategy to expand Neology's presence in the tolling industry.
About Neology, Inc.:
As an early player in UHF technology and holder of significant Intellectual Property in the industry, Neology is a leading provider of integrated solutions for the tolling, electronic vehicle registration (EVR) and public safety markets. For more information visit www.neology-rfid.com.
SMARTRAC® is a leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays and owns a vast RFID patent portfolio. The company produces both ready-made and customized transponders and inlays used in access control, animal identification, automated fare collection, border control, RFID-based car immobilizers, contactless payment cards, electronic product identification, industry, libraries and media management, laundry, logistics, mobile and smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs approximately 3,600 employees and maintains a global research and development, production, and sales network.
All forward-looking statements contained in this press release are based on assumptions, planning, and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions, and other factors may cause the actual results to be materially different from the assumptions, planning, and forecasts at the time of publication of this press release. Therefore, SMARTRAC N.V. does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, SMARTRAC N.V. does not assume any obligation to update the forward-looking statements contained in this press release.