- Report of Foreign Issuer (6-K)
03 June 2009 - 4:27AM
Edgar (US Regulatory)
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For the month of June,
2009
ON TRACK INNOVATIONS
LTD.
(Name of Registrant)
Z.H.R.
Industrial Zone, P.O. Box 32, Rosh-Pina, Israel, 12000
(Address of Principal
Executive Office)
Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
x
Form
40-F
o
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1):
Yes
o
No
x
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7):
Yes
o
No
x
Indicate by check mark whether by
furnishing the information contained in this Form, the registrant is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
o
No
x
If Yes is marked,
indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b):
ON TRACK INNOVATIONS
LTD.
6-K ITEM
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
|
|
ON TRACK INNOVATIONS LTD.
(Registrant)
By: /s/ Oded Bashan
Oded Bashan
Chief Executive Officer and Chairman
|
Date: June 2, 2009
|
Press Release
|
For Immediate Release
E-Kent
Offers Innovative Payment Solution for Mass Transit Ticketing Using
OTI Contactless
Payment Products
OTI Provides Contactless Smart Stickers for Mobile Devices and Saturn 6000 Contactless
Readers
Fort Lee, NJ,
Istanbul,
Turkey
June 2, 2009
On Track Innovations Ltd.
(OTI)
(NASDAQ: OTIV), a global leader in contactless microprocessor-based smart card solutions
for homeland security, payments, petroleum payments and other applications, today
announced that it has been selected by E-Kent, a leading AFC (automatic fare collection)
company in transportation in Turkey, to provide transportation payment solution, based on
OTIs Smart Sticker product and Saturn 6000 contactless reader.
OTIs payment solutions enhanced
E-Kent newly adopted strategy that calls for making alternative distribution channels for
E-Kents main transportation payment vehicle. The initial contract is for a pilot in
the Bursa, a city with a population of 2.5 million residents and is expected to grow to
other cities in Turkey. OTIs payment solution offers a unique payment experience for
mass transit. In Bursa, buses serving the area will be equipped with the new system which
allows customers to use their cell phones or other mobile devices for both transit and
payment.
In Bursa, payments by cell phone are
enabled by OTIs contactless Smart Sticker. The sticker is an entirely
self-contained, contactless payment device that adheres to multiple surfaces including
mobile phones, PDAs and more. Payments are made by placing the smart sticker a few inches
away from OTIs Saturn 6000 contactless reader.
OTI provides its Saturn 6000
contactless reader an exceptionally fast reader with built in encryption
capabilities developed to address the specific needs of the global contactless markets and
the enhanced security required in EMV markets. The Saturn 6000 is the first reader to be
certified for EMV and ISO 14443 PayPass version 1.1 required by MasterCard starting this
year. The Saturn 6000 contactless reader is a leading cost-to-performance contactless
reader in the market today, certified by the major financial institutions.
Oded Bashan, Chairman and CEO of OTI
commented: We are pleased with E-Kents decision to select OTIs payments
suite of products for their transportation customers.
About OTI
Established in 1990, OTI
(NASDAQ:
OTIV)
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, payments, 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 Frost & Sullivan 2005 and 2006
Company of the Year Award in the field of smart cards.
For more information on OTI, visit
www.otiglobal.com
.
Safe Harbor for
Forward-Looking Statements:
This press release contains
forward-looking statements within the meaning of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and other Federal securities laws.
Whenever we use words such as believe, expect,
anticipate, intend, plan, estimate or
similar expressions, we are making forward-looking statements. Because such statements
deal with future events and are based on OTIs current expectations, they are subject
to various risks and uncertainties and actual results, performance or achievements of OTI
could differ materially from those described in or implied by the statements in this press
release. For example, forward-looking statements include statements regarding our goals,
beliefs, future growth strategies, objectives, plans or current expectations, such as
those regarding the performance of E-Kents programs and the improvements that
OTIs contactless solutions will lead to, the potential market thereof and expected
revenues therefrom, the expected growth of the contract with E-Kent to other cities in
Turkey, and regarding the superiority of our products and solutions,. Forward-looking
statements could be impacted by market acceptance of new and existing products and our
ability to execute production on orders, as well as the other risk factors discussed in
OTIs Annual Report on Form 20-F for the year ended December 31, 2007, which is on
file with the Securities and Exchange Commission. Although OTI believes that the
expectations reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be achieved. Except as
otherwise required by law, OTI disclaims any intention or obligation to update or revise
any forward-looking statements, which speak only as of the date hereof, whether as a
result of new information, future events or circumstances or otherwise.
OTI Contact:
Galit Mendelson
Vice President of Corporate Relations
201 944 5200 ext. 111
galit@otiglobal.com
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