That's what I'm talking about!!! This should give the stock a boost for a while. Target price still at 84 cents.
February 26, 2007 - 7:00 AM EST
Rutter to Deliver 40 Voyage Data Recorders to BC Ferries
ST. JOHN'S, NL, Feb. 26 /CNW/ - Rutter Inc. (TSX: RUT) - Rutter Inc. is pleased to announce that following a comprehensive competitive process, its Technologies Division together with its British Columbia dealer and service agent, Radio Holland, will retrofit BC Ferries existing fleet with a total of 40 Rutter VDR-100G2 voyage data recorders (VDRs) over the next two years.
"VDRs are black boxes for ships that record and store audio, instrument, and navigation data in a pressure resistant water-tight capsule. Our VDR provides a particularly rich playback context, providing a clear and accurate record of the circumstances leading up to a marine incident or event," said Byron R. Dawe, President of Rutter Technologies, Products Division. "While the majority of the demand for this product is driven by regulations requiring certain classes of international traveling vessels to carry them (15,000 - 20,000 vessels over the next 5 years), increasingly the VDR is being seen as providing invaluable safety and management information to domestic ferry operations. We are certainly pleased with this latest success and expect that other leading domestic ferry services worldwide will take note and follow the BC Ferries example for voluntary fitting," he said.
"This is a very significant win for us," said Donald I. Clarke, Chairman and CEO of Rutter Inc, "The recognized symbol for coastal transportation in British Columbia, BC Ferries has been operating since 1960 and last year carried 8.5 million vehicles and 21.7 million passengers over more that 186,000 sailings. They are not only one of the largest domestic ferry service in the world, their decision to install VDRs on all their vessels makes this the single largest voluntary installation of voyage data recorders to date globally. Needless to say, we are honoured that our technology and Radio Holland's ability to install and service our VDR was seen as the preferred solution by an enterprise demonstrating such leadership in domestic ferry operations and safety."
Rutter Technologies reference list now exceeds 1,100 vessels including voluntary installations undertaken by Sydney Ferries Corporation in Australia and Marine Atlantic on Canada's east coast. Some of the international traveling ferries and cruise ships that have chosen the Rutter VDR include: Washington State Ferries, Brittany Ferries, SeaFrance SA, Carnival Cruise Lines, Hapag-Lloyd Cruises, Holland America Line, Celebrity Cruises, and Moby Lines. |
