ERG's deal with Rome to proceed -- Anonymous

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Subject: ERG's deal with Rome to proceed

Author:
SMH April 17 2003

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Date Posted: Wednesday, April 16, 10:11:25am
In reply to: Newspapers reporting result--March 7 2003 SMH 's message, "Noteholders have tickets to ride" on Thursday, March 06, 08:38:56am

ERG's deal with Rome to proceed April 17 2003

The decision to proceed with the expansion of Rome's automated fare collection system is expected to generate smart card company ERG $44.5 million in revenue over 18 months.

ERG confirmed the approval had been given after extensive delays.

It said it had reached an in-principle agreement with ATAC, the operator of Rome's metropolitan transit system, and Cotral, the major transport operator in the Lazio region, allowing the project to go ahead.

It involves introducing ERG's fare collection system into the Lazio region surrounding Rome.

ERG chief executive Peter Fogarty said the company was looking forward to generating profitable revenue streams.

The adoption of ERG's technology as the standard for Rome and Lazio strengthened the company's position for other transit contracts and smart-card applications in Italy, he said.

ERG originally contracted with ATAC to deliver automated fare collection for Rome and Lazio.

But ERG said issues outside its control meant it had not been able to meet the project deadline.

The new deal allows Cotral to contract directly with ERG to install the system in Lazio.

ERG and Cotral have entered into a separate deal under which Cotral will own the equipment, expected to be installed by ERG over the next 18 months.

ERG's system has been operating in Rome since April 2001.

ERG said delays in meeting the Lazio part of the deal had had a negative impact on profitability since then. ERG rose 0.5c to 11c.

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Replies:

Subject	Author	Date
ERG's Rome expansion gets green light	West Australian 16/4	Thursday, April 17, 09:56:57pm