Sensys has today been informed by its customer Telvent that their end-customer for the ATVAM project in Saudi Arabia and Telvent has a commercial dispute about their contract.
Sensys has requested that Telvent provide full details of the background to the discussions between Telvent and the client in Saudi Arabia, but has not yet received a reply. Sensys has fulfilled its obligations in the contract with Telvent.
Further to the provision disclosed in the year-end report dated 21 January 2010, Sensys no longer has any net assets in the balance sheet directly attributable to the project. Related inventories can be used for other orders.
Sensys Traffic develops and markets systems for traffic informatics and traffic safety. The systems are primarily used for the monitoring and registration of speeding and red-light infringements. The Sensys share is quoted on NASDAQ OMX Stockholm.