init innovation in traffic systems AG
init received an additional contract from New York City
Karlsruhe (euro adhoc) -
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
technology/traffic/Following Contract
Karlsruhe/New York City, June 2007. Following a recent decision by MTA New York City Transit (NYCT), init has been awarded a modification to its existing contract to expand its AVLM system (including init software and hardware) from 1,329 vehicles by an additional 493 vehicles for its Paratransit fleet, to a total of 1,822 vehicles by the fall of 2008. NYCT´s entire Paratransit fleet will be provided with on-board mobile data terminal computers from the North American Intelligent Transportation System (ITS) specialist. The contract modification agreement was signed recently between the MTA New York City Transit and INIT Innovations in Transportation, Inc., the US American subsidiary of init innovation in traffic systems AG. Due to a letter of intent given in advance, this additional contract has already been registered in our order backlog. This contract modification includes the installation of the latest generation of the on-board computer COPILOTtouch and software. For init, this follow-up project, involving the largest and most prominent public transportation agency in North America, further demonstrates the advanced and innovative approach init provides to solving the transportation needs in the market and validates init´s position as the heading technology provider in the North American transportation market. The new contract follows the initial agreement between NYCT and init for ITS for the Paratransit service, a project which commenced at the beginning of 2006. The Paratransit service is available to approximately 100,000 registered users who are not able to ride accessible buses or subways due to disability. Currently, more than 1,300 vehicles are used for this service in New York City. In the last stage of the project, 1,822 of these vehicles will be equipped with the Automatic Vehicle Location and Monitoring (AVLM) system from init to ensure a more efficient management of the fleet and to optimize the paratransit service without interruptions to regular operations.
end of announcement euro adhoc 27.06.2007 12:03:50
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: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade