Clancy Systems International, Inc./UTS Contracts with San Juan, PR
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
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