Coquitlam-based networked video security surveillance technology company Cantronic Systems Inc. (TSX-V: CTS) has won a contract to provide video security and protection systems in China’s Jiangsu province, the company announced this morning.
The project, which is slated to begin in September, is worth approximately $4.5 million.
The one- to two-year contract will see Cantronic supply and install complete solutions that will integrate video surveillance with smart building systems, such as video intercom, access control and alarm monitoring.
“The project award reflects our experience in providing video surveillance systems for China’s booming commercial building market, in addition to government contracts such as those provided under the nation-wide Safe City program,” Cantronic president and CEO James Zahn said in the release.
“The payment terms will enable us to preserve working capital as Cantronic continues to grow its business of providing complete networked video surveillance system integrations as well as OEM [original equipment manufacturer] and ODM [original design manufacturer] manufacturing of IP video cameras along with its proprietary software management platform.”
In late March, Cantronic sold its money-losing North American business operations to focus on growing its operations in China. (See: “Cantronic to divest local business, focus on China” – BIV Business Today, March 30.)
A spokesperson from Cantronic was not available by press deadline.
Jenny Wagler
Twitter: JennyWagler_BIV