FARA ASA, the leading supplier of IT solutions to the public transport sector in the Nordic Countries, has signed service and maintenance agreements with several counties (län) in Sweden. The agreements cover six counties which are renewing their previous agreements with CPT Nordic, a company acquired by FARA half a year ago.

The agreements prove that the confidence in FARA in Sweden is high and are yet further evidence that the company's strategy for expansion is producing results and significant growth, which in turn is strengthening FARA's reputation and position in the entire Nordic region. This coincides with FARA commencing its participation on the 58th UITP World Congress and Mobility & City Transport Exhibition in Vienna addressing a range of existing and potential customers and partners.

Earlier this year, Kalmar lokaltrafik and X-trafik, also entered into agreements for project deliveries with FARA. The acquisition of CTP Nordic in December 2008 marked the kick-off of FARA's offensive in Sweden. Already this has paid off in terms of agreements with new and existing customers

- The fact that several counties have now selected cooperation and partnership with FARA demonstrates that there is a significant potential for growth in the Swedish market following our acquisition six months ago. The service and maintenance agreements are another confirmation of previous customers of CPT Nordic wanting to continue the cooperation with us in order to develop ticketing solutions for the future. This represents an important vote of confidence in FARA by the Swedish market, which gives us good reasons to expect further growth on this market, says Øivind Kirksæter, Group CEO of FARA.