DGAP-News: init innovation in traffic systems AG / Key word(s): Miscellaneous/Miscellaneous init innovation in traffic systems AG strengthening its presence in North America 03.03.2016 / 11:32 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - new headquarters for US subsidiaries scheduled to be completed in 2017 - development, production, sales and administration departments for North America to be consolidated in one location - efficiency gains and room for future expansion init innovation in traffic systems AG (ISIN DE 0005759807) is strengthening its presence in North America in view of the expected increase in the number of tenders in this core market. The leading international provider of integrated ITS, planning, dispatching and ticketing systems for buses and trains will for this purpose start work on the construction of a new headquarters in Chesapeake, Virginia, for its three US subsidiaries from April onwards. This new building will house the development, production, sales and administration departments. "By consolidating all of these departments in one building, we will increase the efficiency of our workflows and reduce operating and maintenance costs. The new location will also provide us with room for expansion in the future," explained Dr Gottfried Greschner, CEO of init innovation in traffic systems AG, as he outlined the advantages of the project. Investment in long-term growth The Karslruhe-based system supplier of transportation telematics has been represented in North America by its subsidiary INIT Innovations in Transportation, Inc. since 1999. The business volume recorded here has multiplied since the subsidiary's founding. Consequently, INIT Inc. founded two own production units - Total Quality Assembly LLC (TQA) and Superior Quality Manufacturing LLC (SQM) - for the North American market in 2006 and 2011, respectively. The three subsidiaries will in the future be housed under the same roof. In the first nine months of 2015, the current major projects in North America represented 48 per cent of the revenues recorded by the init group. "We have had to expand our spatial capacity and relocate our employees four times over the past 16 years. Thanks to the support provided by the City of Chesapeake, we have been able to find a new home in this growth region. We anticipate that our new location will now be able to provide us with sufficient room for our activities in the long term," stressed Roland Staib, CEO of INIT Innovations in Transportation, Inc. INIT's new headquarters in North America will comprise floor space measuring over 6,500 square metres, and more than 70 employees will work there in 2017. --------------------------------------------------------------------------- 03.03.2016 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: init innovation in traffic systems AG Käppelestraße 4-6 76131 Karlsruhe Germany Phone: +49 (0)721 6100 0 Fax: +49 (0)721 6100 399 E-mail: [email protected] Internet: www.initag.de ISIN: DE0005759807 WKN: 575980 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------------- 442381 03.03.2016