Swarco and Russian bank sign MOU

Russian banking and financial services company Sberbank and Austrian road construction and traffic management company Swarco have signed a Memorandum of Understanding aimed at ‘participation in joint initiatives and the cultivation of mutually profitable cooperation between the two parties as well as their subsidiary structures and groups’. The signing ceremony was held during the St Petersburg International Economic Forum. “The bank intends to actively develop the cooperation with the company in orde
June 20, 2016 Read time: 1 min
Russian banking and financial services company Sberbank and Austrian road construction and traffic management company 129 Swarco have signed a Memorandum of Understanding aimed at ‘participation in joint initiatives and the cultivation of mutually profitable cooperation between the two parties as well as their subsidiary structures and groups’.

The signing ceremony was held during the St Petersburg International Economic Forum.

“The bank intends to actively develop the cooperation with the company in order to modernise the transport infrastructure management system in the Russian regions, in particular such systems as Smart City. The company considers the possibility to organize an industrial production of the management systems and the correspondent software on the Russian territory”, Sberbank deputy chairman Svetlana Sagaydak said.

He said the bank is also ready to consider supporting projects of concern to Swarovski, which includes Swarco, including funding the supply of equipment and production development in Russia.
Urban Traffic Control

For more information on companies in this article

Related Content

  • 'Conservatism hampering ITS technical evolution'
    November 13, 2012
    Nick Lanigan, managing director of Clearview Traffic, considers the current outlook in the ITS sector from an SME's perspective. Interview with Jason Barnes. When times are hard, businesses can invest or cut. Either way, they need guidance from customers – governments – on where best to concentrate their efforts. Prolonged economic slowdown is currently an issue. A short recession, however sharp, would have left many industry players able to ride the bow-wave of governments’ multi-year spending on strategic
    Read More
  • New opportunities in a data-rich future
    March 19, 2014
    Jason Barnes looks at where the detection and monitoring sector is heading. In the future, there will be no such thing as an un-instrumented road. Just a short time ago, that could have been a quote from a high-level policy document but with the first arrivals of vehicles with 802.11p connectivity – the door-opener to Vehicle-to-X (V2X) applications – it’s a statement which has increasing validity. The technology which uses our roads will also provide information on road conditions but V2X isn’t the only
    Read More
  • Swarco demonstrates full-colour LED VMS technology
    March 24, 2014
    Visitors to the Swarco stand 10.103 are confronted with the very latest development in LED variable message signs. The new fully graphic, full-colour LED VMS by Austrian signalling specialist Swarco Futurit is not only able to display the usual signs, but is also suitable to show images and moving pictures, almost in TV quality.
    Read More
  • The future of in-vehicle navigation systems
    February 3, 2012
    TRL's Alan Stevens looks at the evolution and future prospects of in-vehicle navigation devices. Human-Machine Interaction (HMI) plays a crucial role in the safety of vehicles on our roads. Until we achieve full automation (and that's a debatable prospect anyway) a driver's interaction with the vehicle - all the controls, information and systems - holds a pivotal role in safe driving.
    Read More

Highlighted Content