ROSH PINA, Israel, Dec. 12, 2001 (PRIMEZONE) -- OTI (Neuer Markt:OT5), announced yesterday the opening of its new facilities covering an area of 4,000 square meters at an investment of US$3.5 million on its existing site in Rosh Pina, Israel. Mr. Ariel Sharon, Israel's Prime Minister, was in attendance at the opening ceremony held the evening of December 11 at the new building site.
The new building will support research and development, testing, and manufacture the company's contactless microprocessor-based smart card products, while the existing building will house the company's global management offices. OTI's advanced security system, based on its patented contactless microprocessor technology, was implemented in the new building. The system allows highly secure access control management including biometrics authentication and was developed for a large variety of secured uses such as airport terminals, governmental institutions, financial institutions and other secured buildings. The system was presented to and used by Prime Minister, Mr. Ariel Sharon during his visit at OTI's new facilities. Located in Israel's Z.H.R Galilee Industrial Park , an industrial zone in the north of Israel , all of OTI's facilities have been ISO 9002 certified.
The company was honored to welcome Prime Minister Ariel Sharon, who attended the opening to recognize OTI's success in Israel and around the world. "OTI is a significant contribution to the Israeli industry and represents Israel's human capital strength, it is encouraging to hear that 98% of OTI's sales are outside of Israel. May there be many more companies such as OTI in the Israeli industry," said Prime Minister of Israel, Mr. Ariel Sharon.
"The new facilities are a major expansion for the company," said Oded Bashan, President and CEO of OTI. "We now have the flexibility to adapt faster to the needs of our customers and the market by designing and delivering the high-quality products for which OTI is known worldwide".
In the past year OTI has developed a series of innovative products, including the Saturn Reader, capable of operating all ISO-standard contact and contactless smart cards, and a SmartID sticker utilizing the EasyPark system to manage vehicle registration and parking permits already launched by the Tel Aviv Municipality. The company expects to deliver new and innovative products from the new facility in 2002.
About OTI
Established in 1990, OTI (On Track Innovations) designs and develops contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for mass transit, parking, gas management systems, loyalty schemes, ID and secure campuses. OTI has regional offices in the US, Europe, Asia Pacific, and Africa to market and support its products. The company was awarded the prestigious ESCAT Award for smart card innovation in both 1998 and 2000. Visit OTI on the Internet at www.oti.co.il.