Opus Group to start vehicle inspection program in Cordoba, Argentina on March 1, 2017
Opus will acquire three vehicle inspection concessions in Cordoba, Argentina, under an asset purchase agreement with Inspecentro, a Portuguese vehicle inspection company. A purchase price is not disclosed at this time due to competitive reasons. The transaction is expected to be closed by end of February 2017.
The government of Cordoba assigned its three concessions for vehicle inspection in Cordoba to Opus’ Argentinian subsidiary, Opus Inspection SA. Starting March 1, 2017, Opus will perform vehicle inspection mandated for all vehicles registered in Cordoba. The concessions include the operation of 18 inspection lanes in three government owned inspection stations. During the first six months of operation, Opus will upgrade existing technology in inspection stations with its advanced data management system and vehicle inspection software. The City of Cordoba is committed to enforce the vehicle inspection mandate, in partnership with Opus, by utilizing Opus’ proprietary RFID technology. As a result, we expect to significantly increase vehicle inspection compliance in Cordoba during the contract term.
Mr Martin Susbielles, General Manager of Opus Argentina stated: “I am excited to bring Opus’ world class technology
solutions and operational excellence to Cordoba. We are looking forward to working with the government of Cordoba to make this program a success for the citizens of this great city”.
“Our operation has worked hard to prepare for the transition of the inspection operations to Opus. I am excited to see Opus expand into Argentina”, stated Alfredo Granai, Opus’ President of Vehicle Inspection Latin America.
Cordoba is Argentina’s second largest city by population, and has a fleet of well over 500,000 vehicles. The new operation in Cordoba continues Opus’ business growth in Latin America. Adding to vehicle inspection programs in Chile and Peru, Opus’ commitment to the Latin American market is expected to strengthen under the leadership of Mr. Alfredo Granai.
The remaining contract length of the vehicle inspection program in Cordoba is seven years, not including any extensions. The exact contract value is uncertain at this time and will be reported at a later date.
Molndal, February 20, 2017
Opus Group AB (publ)
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