History of Federal APD Parking & 3M Parking
In June of 2012, 3M announced that it was acquiring Federal Signal Technologies Group from Federal Signal Corp. for $110 million in cash. Federal Signals business incorporates electronic toll collection and parking management hardware and software. At that time, electronic tolling and parking (Federal APD)were believed to be ke adjacencies to 3M’s existing product offerings. However, it seems that that a little over two years later, the parking division was no longer considered to be a part of 3M’s strategic portfolio management.
If you have a Federal Parking System, what are your options?
While 3M has stated that the company was making every effort to assist during the transition, many owners and operators immediately began to look for alternatives. Many are looking to replace their Federal Parking Systems because Federal APD parts and upgrades are no longer available. Owners/operators with multiple sites may replace equipment in one parking garage at a time, while using removed equipment to scavenge parts to keep other sites in operation. Eventually, it seems that all Federal parking systems will need to be replaced because spare parts and support are no longer available. (Trademarks belong to their respective owners).