Traffic Technologies has secured a multimillion-dollar contract with Australia’s largest equipment rental outfit, Coates.

The $5.7 million contract will see Traffic Technologies supply a range of intelligent traffic systems equipment to the rental company, with main deliveries expected in the second half of FY22. 

The list of equipment Traffic Technologies will supply includes electronic signs and radar equipment, as well as the associated software to operate these devices.

Traffic Technologies managing director Con Liosatos said the arrangement reflects the company’s successful progress into the burgeoning Internet of Things (IoT) enabled smart city market.

“Such a significant contract is a further endorsement of the company’s expansion into the ‘smart city’ profile, achieved through the important acquisition of the iTS business and its Intelligent Traffic Control solutions,” he said.

The portable intelligent traffic systems ordered by Coates are capable of monitoring conditions on roads and notifying drivers of hazards, inclement weather and construction activity ahead.

By providing drivers with this information in real-time and enabling them to make more informed decisions, these traffic systems can make roads safer and smoother for users.

Delivery of the equipment is expected to be completed by June 2022.

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Reach Corporate have been engaged by TTI to assist with their investor communications.

Sources:

• Coates, Hire and So Much More
• Traffic Technologies, Share Price and Announcements