Scheidt & Bachmann and OTI To Provide The Massachusetts Bay Transportation Authority With Mass Transit Ticketing Solutions
19 December 2005 - 5:00PM
PR Newswire (US)
- OTI Receives Initial Order for More Than $500,000 - FORT LEE,
N.J. and MOENCHENGLADBACH, Germany, Dec. 19 /PRNewswire- FirstCall/
-- On Track Innovations Ltd, (OTI) (Nasdaq: OTIV; Prime Standard
[Frankfurt]: OT5) a global leader in contactless
microprocessor-based smart card solutions for homeland security,
payments, petroleum payments and other applications, today
announced that they will provide smart card technology to Scheidt
& Bachmann, one of the world's leading providers of management
systems for mass transit, car parking, petrol stations and railway
security, for their Massachusetts Bay Transportation Authority
(MBTA) project. OTI's components will be used for the MBTA's new
mass transit ticketing solution scheduled to go online in 2006. The
MBTA is America's first subway system and one of the largest in the
nation with over 1.1 million riders each day. OTI will supply
readers and support software to be integrated into Scheidt &
Bachmann's front end systems consisting of 3,000 fare boxes, ticket
vending machines, point-of-sales devices and fare gates. This order
follows a successful pilot. Under the new agreement, the system
will be installed in all Boston subway stations, Commuter Rail
lines and dedicated Retail Sales offices, with installations
commencing in 2006. The solution allows the transit card to be used
for loyalty programs and tiered fare structures while providing a
high level of security and transaction speed. OTI's readers are
also easy to upgrade as new services become available in the
future. OTI and Scheidt & Bachmann formed a partnership to
provide leading-edge contactless payment solutions to mass transit
systems in September 2003. Since, the two companies have
successfully launched several projects in large metropolitan areas.
Oded Bashan, President and CEO, OTI, commented, "OTI and Scheidt
& Bachmann have successfully implemented several transit
projects in North America and we continue to make in-roads in the
micro-payment arena as our solutions and technology are second to
none. Our agreement with Scheidt & Bachmann for supplying the
Massachusetts Bay Transportation Authority is further proof of the
growing acceptance of our technology. We are confident that our
leadership in contactless smart card technology coupled with
Scheidt & Bachmann's expertise in ticketing management systems
will provide the MBTA with a complete turnkey solution." About OTI
Established in 1990, OTI
(NASDAQ:OTIVNASDAQ:PrimeNASDAQ:Standard:NASDAQ:OT5) designs,
develops and markets secure contactless microprocessor-based smart
card technology to address the needs of a wide variety of markets.
Applications developed by OTI include product solutions for
petroleum payment systems, homeland security solutions, electronic
passports and IDs, micropayments, mass transit ticketing, parking,
loyalty programs and secure campuses. OTI has a global network of
regional offices to market and support its products. The company
was awarded the prestigious Frost & Sullivan 2005 Company of
the Year Award in the field of smart cards. For more information on
OTI, visit http://www.otiglobal.com/. About Scheidt & Bachmann
Scheidt & Bachmann is a family-run company since its foundation
in 1872. Today the company is still managed by the founding family
in the fifth generation. More than 1500 employees work around the
world. While the headquarters is in Monchengladbach, Germany,
subsidiaries and offices are established throughout Europe, the
Americas, Asia and Africa. In the US, the headquarters and the
major manufacturing facility is located in Burlington,
Massachusetts. Innovative system solutions for products and
production are the foundation for Scheidt & Bachmann's success.
The four divisions, acting more or less independently develop,
produce and market systems for car park and leisure centre
installations, protection of railway crossings, fare collection
technology and petrol stations. Scheidt & Bachmann's philosophy
to provide State-of-the-Art technology and system solutions, and
the systematic way to initiate innovative processes, is one of the
reasons why Scheidt & Bachmann is counted as market leader with
all its product divisions -- in Europe and worldwide. For more
information visit: http://www.scheidt-bachmann.de/. OTI Contact:
Galit Mendelson Director of Corporate Communications 201 944 5200
ext. 111 Media Relations Adam Handelsman 5W Public Relations 212
999 5585 IR Contact: David Pasquale/Denise Roche The Ruth Group 646
536 7006/8 DATASOURCE: On Track Innovations Ltd, (OTI) CONTACT:
Galit Mendelson, Director of Corporate Communications,
+1-201-944-5200 ext. 111, ; or Media Relations - Adam Handelsman,
5W Public Relations, +1-212-999-5585, ; or IR Contact - David
Pasquale, +1-646-536-7006, or Denise Roche, +1-646-536-7008, , both
of The Ruth Group Web site: http://www.otiglobal.com/
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