Opus receives notice of contract extension from the NewYork Taxi & Limousine Commission
12.00 PM CET / 20-Dec-2017 / Opus Group (STO:OPUS)
The New York Taxi and Limousine Commission (TLC) has signed a new contract extension with Opus Inspection to continue technical support of their comprehensive vehicle safety inspection program.
The 1-year extension began October 1, 2017, and may be extended at TLC’s option. Opus Inspection initially provided TLC with an automated centralized inspection system for all medallion taxicabs in October 2005, and has continuously provided hardware/software support as well as upgrades for the system since that time.
“We have had a longstanding, excellent relationship with the New York Taxi & Limousine Commission,” said Chris Smith, Opus Inspection’s Vice President of Operations. As part of the extension Opus will be providing several upgrades to the system including enhanced OBD inspection equipment and new, web-based administrative software. “We look forward to continuing our partnership with the TLC for many more years as well as expanding our use of new safety inspection technologies.”
Gothenburg, December 20, 2017
Opus Group AB (publ)
For additional information, please contact:
Lothar Geilen, CEO
Tel: +46 31 748 34 00
Director of Corporate Communications & Investor Relations
Phone: +46 765 25 84 93
Opus is a technology-driven growth company in the vehicle inspection and vehicle services markets. The company has a strong focus on customer service and innovative technology within emission and safety testing and vehicle services. Opus had approximately SEK 1.7 billion in revenues in 2016 with strong operating cash flow and good operating profitability. Opus’ plan is to double its revenues to reach USD 400 million in revenues and USD 100 million in EBITDA by 2021. The main growth is estimated to come from the expansion of the vehicle communication and services business, and the international expansion of the vehicle inspection business with a primary focus on the Latin American and Asian markets. With approximately 2,000 employees, Opus is headquartered in Gothenburg, Sweden. Opus has 30 regional offices, 20 of which are in the United States and the others in Sweden, Argentina, Chile, Mexico, Peru, Pakistan, United Kingdom, Germany and Australia. Opus has production facilities in the U.S. in Hartford, Ann Arbor and Tucson. The Opus share is listed on Nasdaq Stockholm.