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 September, 2006
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
 |
Press Release |
For Immediate Release
OTI Delivers Garanti Bank of Turkey Contactless Card Solutions
Program is Part of MasterCard® PayPass™ Launch in Europe
Fort Lee, NJ – September 5,
2006 – 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, announced today that it is providing Garanti
Bank of Turkey ‘Tap & Go™’ inlay solutions. As previously announced,
Garanti bank is reissuing “Tap & Go™” cards, which use MasterCard
PayPass technology, to its Bonus cardholders.
Mehmet Sezgin, General Manager,
Garanti Payment Systems, said: “OTI’s extensive experience provides a reliable
and cost-effective way to bring contactless solutions to our market. The possibility of
any form factor necessary such as inlays, key fobs, wristwatches, including reader
solutions, will help us differentiate ourselves in Turkey’s highly competitive
payments market.
Garanti Bank is the third largest private bank in Turkey.
Oded Bashan, Chairman, President and CEO of OTI commented: “We are happy to support Garanti bank in its initiative for contactless payments. With OTI experience and expertise, we allow our customers to introduce a cost-effective, reliable and secure solution in short time to market.”
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 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 OTI’s 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. 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 OTI’s Annual Report on Form 20-F for the year ended December 31, 2005, 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. 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: | Media Relations |
| Galit Mendelson | Adam Handelsman |
| Director of Corporate Communications | 5W Public Relations |
| 201 944 5200 ext. 111 | 212 999 5585 |
| galit@otiglobal.com | ahandelsman@5wpr.com |
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 President, Chief Executive Officer and Chairman |
Date: September 7, 2006