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ZEELAND, Mich., April 25, 2017 -- Gentex Corporation (NASDAQ:GNTX), the Zeeland, Michigan-based manufacturer of automotive automatic-dimming rearview mirrors, automotive electronics, dimmable aircraft windows and fire protection products, announced today that it has expanded the coverage of its vehicle-integrated tolling solution to include toll roads in Canada and Mexico.
Marketed by Gentex as ITM™ (Integrated Toll Module™), the feature consists of a universal toll transponder that automakers can integrate into new vehicles. It enables motorists to drive on all U.S. toll roads – and now toll roads in Canada and Mexico – without a traditional toll tag on the windshield. Moreover, motorists would no longer need multiple toll tags for different regions of the country or have to manage multiple toll accounts. Gentex's vehicle-integrated solution simplifies and expedites local, regional, national, and now international travel.
The technology was developed by TransCore, a leading supplier of tolling and traffic management solutions, and utilizes their Universal Toll Module™ (UTM™), which Gentex integrates into its electronic rearview mirrors. The interior mirror is the optimal location for a vehicle-integrated toll transponder and it eliminates the need to affix multiple toll tags to the windshield.
Gentex and TransCore have an exclusive agreement that allows Gentex to integrate TransCore’s UTM technology into automobiles.
"Today, Gentex’s ITM enables the car owner to enjoy a hassle-free driving experience using managed lanes and toll roads across the U.S., Canada and Mexico," said Gentex Senior Vice President and CFO, Steve Downing. "But ITM also establishes a foundation for future car-to-infrastructure transactions."
Automakers can also combine ITM account registration, payments and functionality settings with their existing vehicle-integrated telematics services.
A leader in the transportation industry, TransCore provides innovative, technical solutions and engineering services for applications encompassing next generation All Electronic Tolling and Traffic Management Systems. TransCore's RFID products secure access for airports, hospitals, parking garages, border patrols, trucking fleets and the rail industry. Since pioneering radio frequency identification (RFID) technology for the transportation industry, TransCore has delivered more than 87.8 million toll tags and 95,700 readers. TransCore also operates tolling customer service centers for transportation agencies throughout the U.S. and internationally.
Based in Nashville, Tenn., TransCore is a wholly owned subsidiary of Roper Technologies, a diversified technology company in the S&P 500, Fortune 1000 and Russell 1000 indices.
Founded in 1974, Gentex Corporation (NASDAQ:GNTX) is a supplier of automatic-dimming rearview mirrors and electronics to the automotive industry, dimmable aircraft windows for aviation markets, and fire protection products to the fire protection market. Visit the Company's web site at www.gentex.com.
Contact Information: Gentex Media Contact Craig Piersma (616) 772-1590 x4316 [email protected] Gentex Investor Relations Contact Josh O’Berski (616) 772-1800 x5814 [email protected]
