DRI
Corporation (DRI) (NASDAQ: TBUS), a digital communications
technology leader in the global surface transportation and transit
security markets, announced today that it is expanding its Mobitec AB
(Mobitec) subsidiary's production facilities in Herrljunga, Sweden, to
accelerate production levels stemming from current order flow and
anticipated new orders as a result of increased global sales activities.
David L. Turney, the Company's Chairman, President and Chief Executive
Officer, said: "Mobitec is growing, and production capacity is
increasing. Our space expansion includes production and administrative
areas, service and after-market areas, and product testing labs. Our
present space is increasing by approximately 25 percent; the increase in
production space alone accounts for approximately 40 percent of the
additional concrete. The expansion, which already is underway, is
expected to be fully operational by the end of first quarter 2010. We
are very excited about this subsidiary and its potential for future
growth."
ABOUT THE MOBITEC GROUP
Mobitec, a global supplier of electronic information display systems, is
highly respected for its products, technology, service, and quality.
Mobitec is based in Herrljunga, Sweden. It presently operates business
units in Australia, Brazil, Germany and Singapore, as well as a joint
venture in India. For more information, visit www.mobitec.eu.
ABOUT THE COMPANY
DRI Corporation is a digital communications technology leader in the
global surface transportation and transit security markets. Our products
include: TwinVision® and Mobitec® electronic destination sign systems,
Talking Bus® voice announcement systems, Digital Recorders®
Internet-based passenger information and automatic vehicle
location/monitoring systems, and VacTell® video actionable intelligence
systems. Our products help increase the mobility, flow, safety, and
security of people who rely upon transportation infrastructure around
the globe. Using proprietary hardware and software applications, our
products provide easy-to-understand, real-time information that assists
users and operators of transit bus and rail vehicles in locating,
identifying, boarding, tracking, scheduling, and managing those
vehicles. Our products also aid transit vehicle operators in their quest
to increase ridership and reduce fuel consumption, as well as to
identify and mitigate security risks on transit vehicles. Positioned not
only to serve and address mobility, energy conservation, and
environmental concerns, our products also serve the growing U.S.
Homeland Security market. For more information about the Company and its
operations worldwide, go to www.digrec.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. In
particular, statements concerning the facility expansion in Sweden, that
facility's use for present and anticipated order flow, as well as any
statement, express or implied, concerning future events or expectations
or which use words such as "expect," "fully expect," "expected,"
"appears," "believe," "plan," "anticipate," "would," "goal,"
"potential," "potentially," "range," "pursuit," "run rate," "stronger,"
"preliminarily," "forecast," "opinion," etc., is a forward-looking
statement. These forward-looking statements are subject to risks and
uncertainties, including risks and uncertainties associated with the
facility expansion in Sweden and that facility's use for present and
anticipated order flow, as well as other risks and uncertainties set
forth in our Annual Report on Form 10-K filed March 31, 2009, and as
updated in our Quarterly Report on Form 10-Q filed Nov. 16, 2009,
particularly those identified in Risk Factors Affecting Our Business.
There can be no assurance that any expectation, express or implied, in a
forward-looking statement will prove correct or that the contemplated
event or result will occur as anticipated.
DRI Corporation Contact:
Veronica B. Marks
Manager,
Corporate Communications
Phone: (214) 378-4776
Fax: (214)
378-8437
E-Mail: ir@digrec.com |
