init innovation in traffic systems AG

EANS-Adhoc: init innovation in traffic systems AG
init wins tender for major project in Abu Dhabi

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14.12.2010

Karlsruhe, 14 December 2010. Init Innovation in Traffic Systems FZE, a fully owned subsidiary of init innovation in traffic systems AG, has won a tender called by the Department of Transport of Emirate of Abu Dhabi (DoT). Under the project, the Karlsruhe-based telematics specialist will supply a telematics system as part of the DoT´s Master Plan for the development of public transport in Abu Dhabi (United Arab Emirates). A "letter of award" to that effect has now been issued to init. The details of the contract will be specified within the next weeks.

The contract volume attributable to init amounts to approximately AED 80m (approx. EUR 16m). In addition to the setup of an automated vehicle management system, the contract also involves equipping the entire fleet of 500 buses with on-board computers. A further 860 buses may be added on as an extension of the public transport network.

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Further inquiry note: Alexandra Wirthmann init innovation in traffic systems AG Investor Relations Telefon:  +49(0)721 6100-102 E-Mail: awirthmann@initag.de

Branche: Semiconductors & active components
ISIN:      DE0005759807
WKN:        575980
Index:    CDAX, Prime All Share, Technology All Share
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