03.03.2016
init innovation in traffic systems AG DE0005759807
DGAP-News: init innovation in traffic systems AG strengthening its presence in North America
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.
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- 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.
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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
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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
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442381 03.03.2016
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