December 14, 2010

DRI announces Panamanian orders

DRI Corp. announced that the its Mobitec AB subsidiary in Herrljunga, Sweden, through its Mobitec Brazil Ltda business unit in Caxias do Sul, Brazil, received an order valued at more than $850,000 from a privately owned transit fleet operator in Panama City, Panama.

The privately owned transit fleet operator in Panama City ordered Mobitec MobiLED electronic information display system signs for the front of its bus fleet, as well as Mobitec ICU 400 control units and cable sets, according to DRI.

The company has already begun making deliveries and is expected to conclude the orders by the end of third quarter 2011.

As previously reported, DRI concluded the acquisition of its remaining 50 percent interest in Mobitec Brazil in fourth quarter 2009 when the purchase was officially registered with the Brazilian government. Its 100 percent ownership of Mobitec Brazil was established on July 1, 2009.

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