Redflex Holdings (ASX:RDF) wins Los Angeles contract
Redflex Holdings (ASX:RDF) US subsidiary, Redflex Traffic Systems, has today entered into a major agreement with the Los Angeles County Metropolitan Transportation Authority to provide photo enforcement and violation processing services.
Under this agreement Redflex will provide automated enforcement services at Metro rail crossings and bus lanes intersections across the Los Angeles metropolitan area.
The agreement is for an initial term of eight years and is expected to generate approximately $36.8 million in revenue over the period.
Redflex’s HALO 2 and Alcyon solutions were selected to provide these important road safety services across the LA area following a lengthy and competitive tender process.
Shares in Redflex Holdings (ASX:RDF) are trading 5.1 per cent higher at $0.52.
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Source: Finance News Network
