ARS Networks Looks To Tap Into $3 Billion Available Under TEA-21 to Fund Wireless Railway Crossing.Business Editors NEW YORK--(BUSINESS WIRE)--June 12, 2002 ARS Networks, Incorporated(TM) announced today that it intends to take advantage of the TEA-21 - Transportation Equity Act for the 21st Century
The Transportation Equity Act for the 21st Century (TEA-21) was enacted June 9, 1998, as Public Law 105-178. which has available up to $3 Billion over the next 6 years to fund Railway level crossing programs. TEA-21 continues the requirement that 10 percent of each State's STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. apportionment The process by which legislative seats are distributed among units entitled to representation; determination of the number of representatives that a state, county, or other subdivision may send to a legislative body. The U.S. be set aside for safety construction activities. This will total approximately $3 billion over 6 years. The Railway-Highway Crossing program remains essentially unchanged from ISTEA ISTEA Intermodal Surface Transportation Efficiency Act ISTEA Initial Screening Training Effectiveness Analysis except language is added that a State must consider bicycle safety in carrying out projects. (source: http://www.fhwa.dot.gov/tea21/sumsafe.htm#rhcb section Infrastructure Safety ) "We are confident that our flagship product, the Crosslogix(TM) advanced warning system, will be the standard for the industry to enhance safety at level crossings and fall within the TEA -21 safety infrastructure mandate for America's railways," commented Syd Harland, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ARS Networks. ARS Networks, Incorporated, --- More than just a Railway Level Crossing --- has developed a wireless communications technology called "Crosslogix(TM)" that commercializes safe, secure, cost-effective and reliable systems for the railway industry using patented, remote communications technology. Crosslogix(TM) features an open architecture platform that offers railways and their freight customers unrivaled abilities to address public safety at level crossings, track cargo, communicate with dispatchers and shorten delivery times. The Company's platform provides a portal for a multitude of applications in real-time data collection, processing, monitoring, information analysis and security tailored for the railway industry. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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