init innovation in traffic systems AG
EANS-Adhoc: init innovation in traffic systems AG
init wins tender for major
project in Abu Dhabi
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
14.12.2010
Karlsruhe, 14 December 2010. Init Innovation in Traffic Systems FZE, a fully owned subsidiary of init innovation in traffic systems AG, has won a tender called by the Department of Transport of Emirate of Abu Dhabi (DoT). Under the project, the Karlsruhe-based telematics specialist will supply a telematics system as part of the DoT´s Master Plan for the development of public transport in Abu Dhabi (United Arab Emirates). A "letter of award" to that effect has now been issued to init. The details of the contract will be specified within the next weeks.
The contract volume attributable to init amounts to approximately AED 80m (approx. EUR 16m). In addition to the setup of an automated vehicle management system, the contract also involves equipping the entire fleet of 500 buses with on-board computers. A further 860 buses may be added on as an extension of the public transport network.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Alexandra Wirthmann
init innovation in traffic systems AG
Investor Relations
Telefon: +49(0)721 6100-102
E-Mail: awirthmann@initag.de
Branche: Semiconductors & active components
ISIN: DE0005759807
WKN: 575980
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
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