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| Sunday, May 17, 05:34:49pm | [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, [3], 4, 5, 6, 7, 8, 9, 10 ] |
| Subject: ERG's Rome expansion gets green light | |
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Author: West Australian 16/4 |
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Date Posted: Thursday, April 17, 09:56:57pm In reply to: Newspapers reporting result--March 7 2003 SMH 's message, "Noteholders have tickets to ride" on Thursday, March 06, 08:38:56am http://www.thewest.com.au/20030416/business/tw-business-home-sto95140.html ERG's Rome expansion gets green light SMART card company ERG Ltd today said the Rome expansion project has been given the green light. The phase two expansion involves the rollout of ERG's smart card based automated fare collection system into the Lazio region surrounding Rome. It is expected to generate revenues of around 25 million euros ($A44.5 million) to ERG over 18 months. ERG said it has reached an in principle agreement with the operator of the Rome metropolitan transit system ATAC and the major transport operator in the Lazio region Cotral, allowing the expansion of the ticketing contract to go ahead. Chief executive Peter Fogarty, said the company was looking forward to putting the delays in the project behind it and generating profitable revenue streams for the group. He also said the adoption of ERG's technology as the standard for Rome and Lazio strengthened its position for further transit contracts and other smart card applications in Italy. "It follows our recent contract wins in Seattle, Sydney, Stockholm and Washington DC which together show that ERG's smart card systems are the preferred technology globally," he said. Under the terms of the original contract, ERG contracted with ATAC to deliver an automated fare collection system for Rome and the surrounding region of Lazio. However, ERG said political change and issues outside its control, meant it has not been possible to proceed with the phase two rollout within the original timeframe. The agreement between ATAC, Cotral and ERG allows Cotral to contract directly with ERG for the rollout of its automated smart card fare collection system in the Lazio region. Accordingly, ERG and Cotral have entered into a separate agreement under which Cotral will own the equipment, which is expected to be delivered and installed by ERG over the next 18 months. ERG's automated smart card fare collection system has been operating in Rome since April 2001. ERG said the delay in rolling out the Lazio part of the contract has had a negative impact on its profitability since that time. ERG is separately negotiating a claim with ATAC, the party to the original contract, for the losses caused by the delay. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| ERG was the biggest traded WA stock as it lifted 0.5¢, to 10.5¢, on volume of nearly three million shares. | April 10th 2003 West Australian | Thursday, April 17, 10:01:40pm |
| Re: ERG was the biggest traded WA stock as it lifted 0.5¢, to 10.5¢, on volume of nearly three million shares. (NT) | 344 days==March 18th 2004 | Thursday, March 18, 09:47:01am |