IPICO Inc. Signs China Electronic Vehicle Identification Joint Venture

Burlington, Ontario-based IPICO Inc. has entered into a definitive agreement with CATS Luhai (Beijing) Investment Co., Ltd. to form a joint venture company in China for the purpose of implementation and management of an advanced integrated nation-wide electronic RFID motor vehicle identification and registration, route identification and toll collection program. CATS Luhai is a subsidiary of the China Academy of Transportation Sciences, an agency of the Chinese national Ministry of Transport. The agreement flows from the final selection by CATS of Ipico’s UHF RFID Electronic Vehicle Identification technology. The rollout of the joint venture solutions will commence this quarter and will proceed province by province throughout China over the next four to five years. IPICO Inc. is an RFID solution supplier with operations in Canada, US, South Africa, Europe, Asia and Australia.