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- Strategic partnerships with regional vendors T.M.S. Engineering in Thailand and S.A. Generation Co., Ltd. in South Korea enhance Quarterhill’s sturdy marketplace presence and willpower to international transportation innovation.
TORONTO, July 17, 2024 /PRNewswire/ – Quarterhill Inc. (“Quarterhill” or the “Company”) (TSX: QTRH) (OTCQX: QTRHF), a world chief in transportation know-how answers, pronounces a complete of $4.9 million in gross sales to its regional companions in Thailand and South Korea. All Monetary data on this press shed is reported in U.S. greenbacks except another way indicated.
Via its well-established distributor, T.M.S. Engineering (“TMS”), Quarterhill has effectively tie a $2.8 million pledge to provide its state-of-the-art high-speed Weigh-In-Movement (“WIM”) preclearance techniques, along necessary elements, for a couple of Ministry of Transportation initiatives throughout Thailand. TMS has additionally grow to be Quarterhill’s regional distributor for Sensor Series fiber-optic toll treadle sensors, bettering buyer help for this product in Thailand. This strategic go underscores Quarterhill’s loyalty to making improvements to highway protection, potency, and infrastructure resilience in Asia’s rising markets.
In a parallel construction, Quarterhill’s devoted distributor in South Korea, S.A. Generation Co., Ltd. (“SAT”), has dedicated $2.1 million for the procurement of the state of the art IRD-PAT Bending Plate WIM scales and the flexible SAW moveable enforcement scales. This acquire is an important step ahead in bolstering weight enforcement techniques inside of South Korea, reinforcing Quarterhill’s footprint in offering high-caliber transportation and logistics answers globally.
“We are extremely pleased with these new contracts, which not only represent significant sales achievements but also affirm our strong position in Asia,” stated Chuck Myers CEO of Quarterhill. “Our partnerships with TMS in Thailand and SAT in South Korea are instrumental to our success in the region. This collaboration aligns with our mission to deploy innovative transportation solutions that cater to the unique needs of our international clientele.”
Quarterhill is devoted to its function in remodeling the worldwide transportation park via technological innovation and strategic partnerships. With a focal point on reliability, accuracy, and potency, Quarterhill’s answers are designed to satisfy the rigorous calls for of nowadays’s transportation infrastructure demanding situations. Those fresh guarantees with TMS and SAT additional solidify Quarterhill’s recognition as a relied on spouse within the world transportation sector.
About Quarterhill
Quarterhill is a chief supplier of tolling and enforcement answers within the Clever Transportation Device (ITS) trade. Our purpose is technology-driven international management in ITS, by way of natural enlargement of our tolling and enforcement companies, and via proceeding an acquisition-oriented funding technique that capitalizes on sexy enlargement alternatives inside of ITS and its adjoining markets. Quarterhill is indexed at the TSX below the logo QTRH and at the OTCQX Perfect Marketplace below the logo QTRHF. For more info: www.quarterhill.com.
Ahead-looking Data
This information shed incorporates forward-looking data and forward-looking statements throughout the that means of appropriate Canadian securities rules (jointly, “forward-looking statements”). Such forward-looking statements relate to date occasions, situations or date monetary efficiency of Quarterhill according to date financial situations and classes of motion. All statements alternative than statements of ancient truth could also be forward-looking statements. Such forward-looking statements are continuously, however now not all the time, recognized via the utility of any phrases comparable to “seek”, “anticipate”, “budget”, ”plan”, “goal”, “expect” and alike expressions.
Ahead-looking statements contain identified and unknown dangers, guesses, uncertainties and alternative elements that can purpose unedited effects or occasions to range materially from the ones expected in such forward-looking statements. Subject material possibility elements that would purpose unedited effects to range materially from the forward-looking statements contained on this information shed come with, amongst others, call for for Quarterhill’s services; common financial and marketplace situations; festival; dangers with regards to technological advances and cyber-security; and alternative dangers all set forth within the Corporate’s most up-to-date annual data mode to be had on SEDAR+ at www.sedarplus.ca. The Corporate believes the expectancies mirrored in the forward-looking statements are affordable, however incorrect guarantee may also be for the reason that those expectancies will turn out to be right kind and such forward-looking statements integrated on this information shed must now not be unduly relied upon. Subject material elements and guesses impaired to manufacture the forward-looking statements contained on this information shed come with, amongst others: Quarterhill’s talent to shoot on its marketing strategy; call for for Quarterhill’s services; running guesses; and monetary projections and price estimates. Quarterhill has incorrect goal, and undertakes incorrect legal responsibility, to replace or revise any forward-looking statements, whether or not because of unused data, date occasions or another way, aside from as required via legislation.
SOURCE Quarterhill Inc.
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