init innovation in traffic systems AG

euro adhoc: init innovation in traffic systems AG
other
init wins follow-up contract in Canada

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05.02.2007

With plans to extend its integrated telematics system in 2007, the Regional Municipality of York, Ontario, Canada, located just north of Toronto, continues to rely on hardware and software from init innovation in traffic systems AG. This was confirmed when INIT Innovations in Transportations Inc. in Chesapeake/USA, the North American subsidiary of the Karlsruhe-based turnkey supplier of integrated telematics and fare collection systems for buses and trains, recently received a follow-up contract worth several million Euro to install integrated telematics system on 270 additional buses. Since 2005, the Regional Municipality of York has made efforts to establish one of the most modern public transit systems in Canada. From the very beginning, init has been involved in these efforts and has successfully installed its Intelligent Transportation System (ITS) on the initial 85 vehicles of the "VIVA" Bus Rapid Transit (BRT) system currently operation in Region. Over the next few months, init will equip an additional 270 vehicles with hardware and software. The entire fleet of the York Region will then feature the latest technology. Four independent operating companies managing their operations from independent depots and control facilities will be integrated into a fully integrated Regional system to ensure that all aspects, including the passenger information service, are handled uniformly using the same system. Canada is currently the fastest growing foreign market for init. Consequently, two subsidiaries were established there in the last year enabling init to participate more intensively in tenders in the Canadian market.

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ots Originaltext: init innovation in traffic systems AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Alexandra Weiß
Investor Relations
Telefon:  +49(0)721 6100-102
E-Mail: aweiss@initag.de

Branche: Semiconductors & active components
ISIN:      DE0005759807
WKN:        575980
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
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