omniture

China TransInfo Awarded RMB 20 Million Contract in Shenzhen

2011-06-13 16:36 787

BEIJING, June 13, 2011 /PRNewswire-Asia/ -- China TransInfo Technology Corp. (NASDAQ: CTFO) ("China TransInfo" or the "Company"), a leading provider of comprehensive intelligent transportation solutions ("ITS") in China through its affiliate, China TransInfo Technology Group Co., Ltd. (the "Group Company"), today announced that the Company was awarded an RMB 20 million (approximately $3.0 million) contract to design and construct the Integrated Transportation Command & Control Center System (Phase I) (the "System") in Shenzhen.


The System will be built utilizing advanced telecommunication and IT technology based on data provided by the Transport Committee of Shenzhen City. In accordance with the contract, China TransInfo shall design and develop a software solution for this system, including six sub-systems: screen sub-system, audio sub-system, call center sub-system, digital conference sub-system, traffic data input, process and analysis sub-system, and traffic monitoring sub-system. The project is expected to be completed by the end of July 2011. As of the end of 2010, Shenzhen City had a population of over 10.4 million people and 1.7 million civilian vehicles.

"We are very proud to win the project to construct the Shenzhen Integrated Transportation Command & Control Center System. This project is our first step into the large Shenzhen market and also illustrates our strength in core technologies and leading products," said Mr. Shudong Xia, Chairman and Chief Executive Officer of China TransInfo. "The Ministry of Transport is committed to building a comprehensive and efficient transport monitoring network during the Twelfth Five-year Plan and to further facilitating the development of transport information practical applications. With our technology advantage, leading brand and market position, our core business is well positioned for success. The Twelfth Five-Year Plan provides the intelligent transportation industry with a great market opportunity, which we plan to capitalize on to increase our market share and maintain our leading position in the industry."

About China TransInfo

China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Group Company") and the Group Company's PRC operating subsidiaries, is primarily focused on providing urban and highway transportation management solutions and information services. The Company is a leading transportation information products and comprehensive solutions provider, and aims to be the largest real time transportation information service provider and major commercial vehicles service provider in China. As the co-formulator of several transportation technology \national standards, the Company owns five patents and has won a majority of the model cases awarded by the PRC Ministry of Transportation. As a result, the Company is playing a key role in setting the standards for transportation information solutions in China. For more information, please visit the Company's website at http://www.chinatransinfo.com.

Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Company Contact:

 

 

Ms. Fan Zhou, Investor Relations Director

 

 

China TransInfo Technology Corp

 

 

Email: ir@ctfo.com

 

 

Tel: + 86-10-5169-1657  

 

 

 

 

Investor Relations Contact:

 

 

Mr. Athan Dounis

 

 

CCG Investor Relations

 

 

Email: athan.dounis@ccgir.com

 

 

Tel: +1-646-213-1916

 

 

 




Source: China TransInfo Technology Corp.
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