Manufacturing Industry
Federal APD awarded contract for airport parking systems
Airline Industry Information, August 27, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Federal Signal Corporation (NYSE: FSS) has said that the Port Authority of New York and New Jersey has awarded the company Federal APD a USD47m contract to supply new integrated parking and revenue control systems for LaGuardia, Kennedy International and Newark Liberty International airports.
The new systems will replace the current parking equipment and parking management hardware and software systems. Under the contract, Federal APD will also provide service and the contract has a base performance period of six years with renewal options.
According to the company, an estimated USD2m in revenue will be recorded in 2004, USD14m in 2005 and USD13m in 2006 with the remaining value spread over the balance of the contract period.
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