Iteris Selected by Boeing for $850,000 ITS Redevelopment Contract
--Iteris to Implement Intelligent Transportation Systems Elements of Boeing?s C-1 Aircraft Production Facility Redevelopment in Long Beach, CA--
Santa Ana, Calif.-- Iteris, Inc., a leader in the traffic management market that focuses on the application and development of advanced technologies, today announced it has been engaged by The Boeing Company to implement an adaptive traffic control system (ATCS) in conjunction with the redevelopment of the 261 acre Douglas Park site located in Long Beach, California.
As part of Boeing?s plans to redevelop the site into a master planned community with a mix of residential, retail, light industrial, office, and other ancillary uses, a number of traffic and air quality mitigation measures have been identified. The ATCS is one of several intelligent transportation systems (ITS) elements which, together, are designed to minimize the project?s impact in these areas.
?The Douglas Park contract highlights the many benefits that ITS provides in supporting major redevelopment projects,? said Abbas Mohaddes, Iteris? president and chief executive officer. ?Iteris is very pleased to have been selected to provide this traffic control system and contribute to this important development.?
In an area bounded by the I-710, I-405, I-605 and SR 91 freeways, the adaptive traffic control system will automatically adjust the traffic signal timings to respond to changes in traffic demand. This is very important to a large development project such as Douglas Park where an extensive mix of uses makes predicting traffic conditions very difficult.
About Iteris, Inc.
Iteris, Inc. is a leader in the traffic management market. Iteris is focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion and improve the safety of surface transportation systems. Combining outdoor image processing, traffic engineering and information technology, Iteris offers a broad range of Intelligent Transportation Systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, California with offices throughout the U.S., Europe and Asia. Investors are encouraged to contact us at 888-329-4483, or at www.iteris.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words suchas "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," ?can? and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the success and timing of this project and our future prospects.
Important factors that may cause such a difference include, but are not limited to our ability to specify, develop and complete our technologies in a timely manner; budget constraints and changing governmental priorities; the timing and successful completion of this contract; the potential unforeseen impact of product offerings from competitors and other competitive or governmental pressures; and the general economic and political conditions and specific conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website (www.sec.gov).
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