init innovation in traffic systems AG

euro adhoc: init innovation in traffic systems AG
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init wins contract worth 25 mill. US Dollar from Seattle

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Large order from Seattle

13.03.2007

init innovation in traffic systems AG has secured another major customer in the USA. By 2011, King County Metro Transit in the US state of Washington plan to equip their entire vehicle fleet with hardware and software from the Karlsruhe-based telematics specialist. Counting a total of 1,449 vehicles, this will be the biggest installation project involving mobile init systems in the USA to date, aggregating an order volume of 25 mill. US Dollar (around 19 mill. Euro). The respective contract between Metro Transit and the US American subsidiary of init innovation in traffic systems AG (INIT, Inc.) was signed. Along with the COPILOTPpc on-board computer and a GPS location system, the equipment will include passenger information displays, vehicle and traffic data processing software, and an automatic passenger counting system. Following an intensive procurement process of more than a year, the local public transportation company, which operates in Seattle and the West Coast metropolitan region, opted in favor of the telematics system from init for the control of their vehicle fleet. To date, King County Metro Transit have twice been honored as the best-run large public transportation system in North America and are considered one of the most innovative transportation service providers. They service the Seattle conurbation with a total population of approx. 1.8 mill. and transport an estimated 100 mill. passengers each year. The King County Metro Transit contract will add yet another significant reference project to init’s growing list - after Vancouver, Canada the biggest one to date in North America. It will enable init to extend their North American base considerably and give the company an edge in future bidding. Against the background of increasing energy prices in the USA and Canada, both countries are currently expanding and modernizing their local public transportation systems with investments running into billions of dollars.

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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/prime
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