ON Track Innovations Ltd - Report of Foreign Issuer (6-K)
December 11 2007 - 5:06AM
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
December, 2007
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.
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ON TRACK INNOVATIONS LTD.
(Registrant)
By: /s/ Oded Bashan
Oded Bashan
Chief Executive Officer and Chairman
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Date: December
11
th
, 2007
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Press Release
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For Immediate Release
OTI
Receives Additional Orders to Support the City of Warsaw and
Additional Cities in Their Multiple Application Contactless Cards for
Public
Transportation and Parking Solutions
Orders are for More
Than $500,000
Fort Lee, NJ December 10,
2007
On Track Innovations Ltd (OTI) (NASDAQ GM: OTIV), a global leader in
contactless microprocessor-based smart card solutions for homeland security, payments,
petroleum payments and other applications, today announced that its subsidiary, ASEC S.A.
(ASEC) in Poland, will provide the Transport Department of the City of Warsaw
with additional public transportation and street parking contactless tickets. Following
Warsaw, the program is expanding to other cities in Poland including Gdynia, Plock and
Rybnik. The orders are for more than $500,000 and delivery is expected to be completed by
the end of this year.
Warsaw residents use OTIs
contactless cards for bus, tramway, or metro rides, as well as for street parking. ASEC
also provided additional services and products for the project including: terminals with
integrated contactless readers that enable card loading and perform sale transactions, as
well as automated ticket vending machines and software for data gathering and sales
monitoring.
Oded Bashan, Chairman & CEO
commented: we are pleased with the expansion of the mass transit project in Poland
and the ability to provide additional services and products.
About OTI
Established in 1990, OTI (NASDAQ- GM:
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
, the content of which is not part of this press release.
Safe Harbor for
Forward-Looking Statements:
This press release may contain
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 expected income to be generated from the orders from the
Transport Department of the City of Warsaw or regarding the superiority of our
technology and our expansion plans in Europe. 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, 2006, 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.
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OTI Contact:
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Investor Relations
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Galit Mendelson
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Miri Segal
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Director of Corporate Communications
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Strategic Growth International
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201 944 5200 ext. 111
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212 838 1444
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galit@otiglobal.com
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msegal@sgi-ir.com
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