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30.10.2009 – 11:46

init innovation in traffic systems AG

EANS-News: init innovation in traffic systems AG /10 Years of Innovation in Public Transit Empowered by INIT Innovations in Transportation, Inc.

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Karlsruhe (euro adhoc) - Chesapeake, Virginia, October 30, 2009. The success story of INIT Innovations in Transportation Inc. has reached a milestone with the celebration of its 10 year anniversary. Since 1999, when INIT was first established as an ITS provider on the North American market, INIT has managed to win the respect and partnership of customers in more than 20 cities from New York City to Vancouver, Canada. Based on the competence of its staff, INIT Inc. has produced a steady stream of innovations in public transit throughout its ten-year history. Thus, INIT has contributed significantly to a more attractive, faster and more efficient transit service in the US.

"We are pleased to celebrate INIT´s anniversary and the growth, investment and jobs the company has brought to our city," said Chesapeake Mayor Alan Krasnoff. "Ten years ago, INIT chose Cehsapeake as a central base to launch its intelligent transportation systems. Today, the company has globally impacted public transit as we know it. INIT is representative of the number of international companies that locate here, find a skilled workforce, and strategically access new markets, and we are delighted they call Chesapeake one of their homes."

Green innovation sweeps public transport in the US

Merely one year after winning the first contract in Akron, Ohio, the ITS map of the USA was already peppered with nine INIT-green dots. INIT had gained new partners in Albany, Champaign-Urbana, Rock Island, Lafayette, Portland, Denver, St. Louis and Montreal as customers. In 2003, it added Houston METRO to the list, where INIT provided some 1,350 buses and their control center with hardware and software. This contract is still one of the largest in company history.

In 2005, New York followed the example of Houston. New York City Transit equipped more than 1,300 of its paratransit buses with on-board computers delivered by INIT. In the years following, INIT Inc. continued to produce exceptional technology building a quality reputation with new projects in Toronto, Vancouver, B.C., Everett, Dallas, Seattle and San Francisco.

Due to INIT´s outstanding experience gained in over 400 projects worldwide, INIT systems are highly flexible and adaptive to any given IT infrastructure. INIT Inc., together with its German parent company, init innovation in traffic systems AG, is one of the global leaders in ITS and electronic fare payment systems.

INIT goes West Coast

Over the last three years, INIT won three new customers on the West Coast of the USA - King County Metro (Seattle, WA), Community Transit (Everett, WA) and Golden Gate Bridge Highway and Transportation District (San Francisco, CA). Just recently INIT Inc. has been commissioned as a general contractor by Portland TriMET, one of the leading local public transportation providers in the USA.

Another chapter of INIT`s success story has begun. High hopes and new opportunities will allow INIT to continue driving the future of mobility all over the world.

About INIT: INIT is a leading turnkey integrator and provider of advanced ITS and computer integrated technologies for rail, fixed-route bus and demand- oriented vehicles. Major system features include Computer-Aided Dispatch/Automatic Vehicle Location (CAD/AVL), Real-Time Passenger Information (RTPI), on-board computers, mobile data terminals, GPS, Automatic Passenger Counting systems, Traffic Signal Priority, Voice & Data Radio Communications, Control Center Hardware and Software and Trip Planning.

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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
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade

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