Continues to lead with more than 10 Smart City Projects
Dublin, Ireland—October 29, 2014: Bocom System, a strategic brand of Allegion plc (NYSE: ALLE), that specializes in video monitoring solutions, continues to develop China’s smart city projects. Bocom system recently signed an agreement, in alliance with China Telecom, for the Wuhu City Skynet Project valued at $25 million.
“This project highlights Allegion’s leadership across the security spectrum,” said David D. Petratis, Chairman, President and CEO of Allegion. “Winning this bid shows that Allegion is redefining security by creating practical solutions and innovative products that meet our customer needs.”
Bocom System has participated in smart city projects in Shanghai, Tangshan, Shijiazhuang, Handan, Xi’an, Xining, Haikou, Guiyang, Puer and Shenzhen. With the speed at which technology is evolving, and with growing numbers of smart city projects being executed, Bocom System is capitalizing on its expertise in these areas.
“Bocom System was well positioned to win this contract due to its expertise, strategic project execution, and excellent customer service support” stated William Yu, Allegion’s SVP and President for Asia Pacific Region. “We understand the city’s vision and needs, and will provide them with innovative and effective solutions,” added Lou Feng, President of Allegion Security Technology (China) Co. Ltd.
The project will be executed in Wuhu, the second largest economy in Anhui Province. In 2013, Wuhu’s GDP reached more than $34 billion. The city is part of a 90-pilot smart cities initiative by China’s Ministry of Housing and Urban-Rural Development.
The Wuhu City Skynet Project is expected to take six months to complete and will include the installation and commissioning of new equipment as well as the integration of over 4200 existing video surveillance points into the new system. Bocom System will also operate and maintain the new system for three years.
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Allegion (NYSE: ALLE) creates peace of mind by pioneering safety and security. As a $2 billion provider of security solutions for homes and businesses, Allegion employs more than 8,000 people and sells products in more than 120 countries across the world. Allegion comprises more than 25 global brands, including strategic brands CISA®, Interflex®, LCN®, Schlage® and Von Duprin®.
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