init innovation in traffic systems SE — M&A Activity 2002

Jan 15, 2002

News Details

Ad-hoc | 15 January 2002 07:00

Init AG english

Another tender awarded: more than US $7 million Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Init Innovation in traffic systems AG will provide a US $7 million intelligent transportation system to the Capital District Transportation Authority (CDTA) in Albany, the New York State capital. INIT’s advanced telematic system includes advanced radio system technology, automatic vehicle location, automatic passenger counting, passenger information displays, and traffic signal priority. The Board of Directors for CDTA voted in its January meeting to award the contract to the US subsidiary INIT Innovations in Transportation, Inc. in Chesapeake, Virginia. Within the next 18 months the control center, 345 service and support vehicles, stops and intersections will be equipped with INIT hardware and software. This is the fourth transit authority to choose INIT since December 2001. For further information please contact Mr. Bernd Gorenflo, telephone +49 / 721 / 6100358 or mail ir@initag.de. end of ad-hoc-announcement (c)DGAP 15.01.2002 ——————————————————————————– WKN: 575980; ISIN: DE0005759807; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 150700 Jän 02