Unitronics Industrial Automation Ltd.(EuroNM: UNITB; TASE: UNIT) today notified the stock exchange that its subsidiary, Unitronics Systems, had signed a binding letter of intent with Properties Prestige to design, supply, and build an automatic parking lot in Calgary, Canada. Unitronics will receive $24 million (NIS 96 million) for completing the project.
According to the binding letter of intent, the automatic parking system will provide 1,400 parking places for one of the world's leading hotel chains. The full agreement between the parties is due to be signed, and the project to be completed, subject to obtaining the required permits from the relevant authorities and implementation of the project by the client. It is currently believed that implementation will begin this year.
Unitronics has developed advanced proprietary technology designed to increase parking density and make use of a parking lot more efficient, based on a system of robot units developed by the company and a system of automatic shuttles, elevators, and control software designed to make the operation of robot systems more efficient, with the average time required to park or extract the car being limited to two minutes. The company's parking system can park three cars in the average space needed to park a car in a conventional parking lot.
Unitronics chairman and CEO Haim Shani said, "I'm proud that we were selected by a leading customer in its field to build the largest automatic parking system in North America for the use of one of the world's largest hotel chains. This achievement is confirmation of the advantages and quality of the proprietary design and advanced robotics in the system we developed. Unitronics has built dozens of automatic warehouses and distribution and collection center systems, including one of the world's largest logistics systems in the pharmaceutical industry."
Published by Globes [online], Israel business news - www.globes-online.com - on March 8, 2015
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