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 July, 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: July 27, 2009
 |
Press Release |
For Immediate Release
OTI’s
Wholly Owned Subsidiary in Poland – ASEC – Completes the First
Stage of
Infrastructure Installations for Warsaw City Card
| — | OTI Acts as an e-Ticketing Operator |
| — | More than 100 Loading Points (including Ticket Vending Machines and Terminals) Have Been Installed |
| — | Direct Revenues Generated from Transaction Fees Are Expected to Aggregate More Than $10 Million Over the Next 5 Years |
Fort Lee, NJ – July 27, 2009 – 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, has completed the first stage of the infrastructure installations for Warsaw’s City Card, which is a multi-application system using contactless cards. OTI acts as an e-ticketing and parking operator for Warsaw City Card for the Transport Department of the City of Warsaw.
OTI provides a sales network system, infrastructure, distribution service and maintenance for loading transportation and parking electronic cards around the city. Infrastructure for the project includes hundreds of automated ticket vending machines and terminals installed in subway and train stations, buses and tramway transfer hubs and in areas frequently visited by tourists. The completion of this stage allows OTI to accelerate the direct revenues generated from transaction fees which are expected to aggregate more than $10 million over the next 5 years.
Oded Bashan, Chairman and CEO of OTI commented: “This project strengthens OTI’s position as a professional and efficient operator, by meeting and exceeding the city’s requested timetable.”
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 and loyalty
programs. 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 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, such as those regarding the expected direct revenues to be generated from transaction fees from the Warsaw’s City Card system and the expected timing for generating such revenues. 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, 2008, 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: | Investor Relations: |
| Galit Mendelson | Miri Segal |
| Vice President of Corporate Relations | MS-IR LLC |
| 201 944 5200 ext. 111 | 917-607-8654 |
| galit@otiglobal.com | msegal@ms-ir.com |