init innovation in traffic systems SE

Regulatory Filings • Dec 3, 2001

News Details

Ad-hoc | 3 December 2001 09:09

Init AG english

INIT is successful in tender for telematics worth more than 3 million US dollars Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– INIT is successful in tender for telematics systems totalling more than 3 million US dollars Transportation companies in Indiana and Illinois decide in favour of the Init technology. Further tender decisions are expected soon Init innovation in traffic systems AG is going to install its integrated telematics and automatic passenger counting systems for the two transportation companies in the US-states of Indiana and Illinois. The US-subsidiary INIT Innovations in Transportation, Inc was awarded these tenders to the total of approximately 3 million US dollars. After the positive decision of the evaluation committees the Board of Directors also decided in favour of the Init technology. The management was instructed to define the final details of the contracts at short notice. The majority of the order volume will be booked in sales for the year 2002. As of now Init innovation in traffic systems AG will clearly exceed the sales target for 2001 in the North America business of about 1.7 million Euro. The growth target for the year 2002 in North America is nearly secured due to this success: thus 80 % of the sales volume planned for the year 2002 are already covered with orders. In addition, Init is involved in competitive tendering with pending decisions amounting to a total of more than 12 million US dollars. Further decisions are expected in the next few weeks. Here, Init is confident of having good chances for additional orders. For further information please contact Mr. Bernd Gorenflo, telephone +49 / 721 / 61 00 358 or mail ir@initag.de end of ad-hoc-announcement (c)DGAP 03.12.2001 ——————————————————————————– WKN: 575980; ISIN: DE0005759807; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 030909 Dez 01