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Frame agreement for tags in Portugal

Q-Free has signed a frame agreement for tags (OBUs) from Via Verde, - the only tag issuer in Portugal. The order has a minimum value of approximately 17 MNOK and will be supplied within two years.

Q-Free has signed a frame agreement for tags (OBUs) from Via Verde, - the only tag issuer in Portugal. The order has a minimum value of approximately 17 MNOK and will be supplied within two years.

Via Verde is a part of the Brisa Group, which is one of Portugal`s leading concessionaires.

Brisa has been a customer of Q-Free since 1994 and Q-Free has delivered more than 2.4 million tags, ETC equipment and back office system to Brisa over the years.

"The tag market in Portugal is expected to grow in the coming years for several reasons. Old tag technology is expected to be substituted by the newest technology, conversion of shadow tolling roads to real tolling will continue and not at least due to the potential electronic licence plate program in Portugal. In this respect it is very important for Q-Free to be Via Verde's preferred tag supplier and the first company ever to deliver the newest tag technology in Portugal", CEO in Q-Free Øyvind Isaksen comments.

Q-Free has a subsidiary in Lisbon, Portugal.

Trondheim 25th of May 2010.

For further information, please contact:
CEO Øyvind Isaksen, cell: +47 905 59 401
CFO Roar Østbø, cell: +47 932 45 175

Associated companies:


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