DENVER--(Business Wire)--Clancy Systems International, Inc. (OTCBB:CLSI) announces that its
wholly owned Puerto Rican subsidiary, Urban Transit Solutions, Inc.,
has entered into a contract with San Juan, Puerto Rico for a complete
parking program. The parking system will include installation of
single space meters, multi-space meters, ticket issuance and
enforcement personnel, ticket processing and collections, and
installation of signs. The Company has opened an office in San Juan.
The park-by-phone program will also be introduced to Puerto Rico for
the city of San Juan.
Included in the Company's Puerto Rican expansion will be the city
of Bayamon, which is close to San Juan.
The Company provides parking programs to other cities in Puerto
Rico including Cauguas, Arecibo, Aguas Buenas, Ponce, San German,
Mayaguez, and Isabella. In addition to parking programs, several
cities also utilize code enforcement programs.
After the initial installation of the program infrastructure for
San Juan and Bayamon, the Company expects to see a substantial growth
in revenue from its subsidiary. The growth and expansion of this
entity has been financed through cash flows, which has offset the
revenues. With the two largest cities in Puerto Rico under contract,
the Company expects to see revenue growth in the next year.
Clancy Systems International, Inc.
Stanley Wolfson, 303-753-0197
President
www.clancysystems.com
Copyright Business Wire 2008
