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“We intend to make all the necessary adjustments to our management practices. The board of directors has also clearly shown its willingness to prioritize respect for the principles and rules of good governance within the organization.”

It should be noted that Stationnement de Montréal has already taken all necessary measures to respect the rules of adjudication for City of Montréal contracts.

Mr. Racine also pointed out that Stationnement de Montréal had installed a new management team since his arrival in April 2010. Over the last year, the new management team has made the regulation of activities linked to the BIXI project a priority, working in close collaboration with the City of Montréal.

“The results are already visible as the implementation of a new funding plan for BIXI has allowed Stationnement de Montréal to be fully repaid the advances it made to the project. Today, we no longer have any formal connection with BIXI,” stated Mr. Racine.

“As BIXI is now a totally independent organization, the management team of Stationnement de Montréal intends to concentrate entirely on accomplishing its mission,” concluded the Chairman.

About Stationnement de Montréal

Since its creation in 1995, the Société en commandite Stationnement de Montréal has been a key player in the development of operational solutions for urban travel. Originally founded to ensure the optimal management of paid – on and off – street municipal parking spaces, The Société was soon recognized for its innovation, its use of cutting-edge technologies and the harmonious integration of its installations into the urban landscape.