Digital Recorders to equip Volvo Bus with destination signs

Digital Recorders Inc. announced today its Mobitec Holding AB (Mobitec) subsidiary in Sweden was awarded a supply agreement to provide electronic destination sign systems to Volvo Bus Corporation in Europe, China and Mexico. This agreement will provide Mobitec up to $3.5 million in potential sales revenue annually. Based in Göteborg, Sweden, Mobitec is a supplier of electronic destination sign systems in the Nordic markets. Mobitec also has business units in Australia and Germany, as well as a joint venture in Brazil. As part of senior management’s plans to grow at an accelerated pace through internal and external means, the Digital Recorders completed its acquisition of Mobitec in June 2001. The acquisition expanded the company's geographical reach and cross-selling opportunities.