init innovation in traffic systems AG

euro adhoc: init innovation in traffic systems AG
init selected as preferred tenderer by Metro Tasmania - First major project for init in Australia

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init innovation in traffic systems AG has been selected as the preferred tenderer for a new state-of-the-art smart card ticketing system by Metro Tasmania, the largest public transport provider in Tasmania. According to Metro Tasmania, the Karlsruhe-based specialist for telematics and electronic fare collection will install a smart card ticketing system in its 220 buses, three depots und 30 ticket agencies. The tender has a volume of around two million euros and is init´s first major project in Australia. The contract between Metro and init, as well as the exact details, will be fixed within the next few weeks.

init has only recently extended its operations into the Asian-Pacific region with the opening of an office in Australia in August 2007. The Metro Tasmania project therefore is a showcase for init´s public transport technology for the whole Asian-Pacific region.

Metro´s decision followed an extensive tender evaluation process that began in April 2007. init´s smart card-based system, according to Metro Tasmania, "is the best available technology" and "clearly provided the best value for money option for Metro". The new system will make travelling on Metro buses easier and enable Metro to introduce a range of new services, as well as to more effectively monitor the punctuality and reliability of its services.

Work on the system design phase of the project will commence before Christmas. Manufacturing and testing phases will follow, with system implementation scheduled for late 2008/early 2009.

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ots Originaltext: init innovation in traffic systems AG
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Further inquiry note:
Alexandra Weiß
Investor Relations
Telefon:  +49(0)721 6100-102

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