init innovation in traffic systems SE

  • WKN: 575980
  • ISIN: DE0005759807
  • Land: Deutschland

Nachricht vom 26.09.2019 | 13:38

init Celebrates 20 Years of Innovation in North America

DGAP-News: init innovation in traffic systems SE / Key word(s): Miscellaneous/Miscellaneous

26.09.2019 / 13:38
The issuer is solely responsible for the content of this announcement.


 

INIT Innovations in Transportation, Inc. a wholly owned subsidiary of init innovations in traffic systems SE celebrates 20 years of successful business in North America this year. From a small office with five employees, the company has grown to become one of the world's leading suppliers of integrated systems for public transit, and its products have received numerous awards in North America.

Close customer relationships: basis for success

init evolved from a university spin-off in 1983 in Karlsruhe, Germany to become a world market leader for Intelligent Transportation Systems (ITS) with group revenues of more than 135 million Euro and around 800 employees. In 1999, a North American subsidiary, INIT Innovations in Transportation, Inc., was established in Chesapeake, VA with a small staff of five. Since then, the company's evolution has swiftly advanced. Today, with over 55 North American customers, and more than 100 employees, INIT Inc. has thrived in building close customer relations as a firm foundation for its continued business success.

"Our accomplishments are due to the trust of our numerous long-term partnerships and a committed team of employees operating across North America," says INIT, Inc. CEO, Roland Staib.

In 2017, INIT Inc. built a new headquarters to accommodate the company's growing staff, expanded warehouses, and their two manufacturing subsidiaries which produce cable harnesses and electronics.

An established presence on the US West Coast

INIT's presence expanded in 2011 with the establishment of a satellite office in Seattle to serve customers up and down the US West Coast. Since then, an influx of project awards, including the recent deliveries of a next generation fare system for the Central Puget Sound Regional Transit Authority (Sound Transit) in Seattle and an advanced fare payment system for the Metropolitan Transit System (MTS) in San Diego, CA, has been a catalyst for the company's growth momentum.

INIT's reputation as a technology innovator has been recognized over the years with many awards. Most recently, the Canadian Urban Transportation Association (CUTA) awarded INIT with a Corporate Safety and Security Award for their driver performance software implemented at York Region Transit in Toronto. In May 2019, CoVa Biz Magazine bestowed their 2019 Best Place to Work award to INIT for the third consecutive year.




Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com


26.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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