Tokheim, Europe's Leading Supplier of Forecourt and Retail Automation Equipment Selects OTI's EasyFuel Solution
July 26 2010 - 6:31AM
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 Tokheim Group S.A.S. has selected OTI's
EasyFuel system to provide customers with a secure and reliable
fuel management system incorporating vehicle identification. OTI's
EasyFuel system has been integrated to Tokheim's FuelPOS.
Tokheim has Sales and Services Divisions in 27 countries and
well established distribution channels in 120
countries. Tokheim supplies dispensers for commercial and
retail applications, payment terminals and electronic point of sale
systems. Tokheim directly services more than 31,500 service
stations across Europe. Tokheim has undertaken to standardize on
EasyFuel for the European markets and to actively promote the
integrated solution in such markets.
The integrated solution allows Tokheim to extend its current
product offering whilst leveraging the experience gained by OTI in
implementing fuel management systems. The application
parameters supported by EasyFuel are extensive enabling the
integrated solution to support features such as fuel grade, expiry
date, velocity checks and tank capacity. Moreover, automated
odometer and/or engine hour capture at the time of refuelling
ensures that customers are provided with quality information to
manage fuel consumption. As the OTI Technology platform is
microprocessor based and supports full read/write functionality,
information on devices in the field and the application itself can
be updated remotely. The integrated EasyFuel/FuelPOS solution
enables Tokheim to offer their customers nozzle in correct tank
security whilst managing risk on the front end.
By positioning itself as a service provider in various markets,
OTI has developed best practices over many years. These best
practices underpin the back office software tools which are
licensed to partners in order to enable them to enhance their
service offering.
Kurt Dillen, General Manager of the System and Electronic
Business Unit, stated, "This agreement will drive Tokheim to offer
our customers an enhanced solution in a world where more and more
features are required to protect against potential fraud and to
manage the fuel business better."
Oded Bashan, Chairman & CEO, OTI, stated, "This agreement is
in line with our strategy to leverage our customers' sale and
marketing network and enhance their product offering to their
existing customers – all with a view to increase market share and
customer satisfaction."
EasyFuel is a unique solution based on OTI's proprietary
technology and gives oil companies and fleets a unique advantage.
Some of its benefits:
- Completely wireless - eliminates the need for cables in the
station or fuel hose
- Eliminates fuel fraud and reduces cash and paper handling
- Easily installed using existing POS and fueling equipment;
dispenser independent
- Allows stations to offer 24-hour unattended refueling
- Build customer loyalty by signing long-term contracts
- Dramatically improve the turnaround time on the island
- During each refueling EasyFuel reads the actual mileage from
the odometer and/or engine hours and provides this information to
fleet owners, thus providing a powerful fuel management tool
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 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.
The On Track Innovations Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5736
About Tokheim
Tokheim Group S.A.S., based in Paris, France, is one of the
world's leading manufacturers and service providers of fuel
dispensing and automation equipment. With operations in many
countries around the globe, Tokheim offers customers a complete
range of fuel dispensers and pumps, retail automation systems,
payment terminals, media devices, replacement parts and upgrade
kits, and a full range of support services, including service
station construction and maintenance. For more information, visit
www.tokheim.com.
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 deliveries to be generated from the orders from
Tokheim or regarding the superiority of our technology.
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, 2009,
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.
CONTACT: On Track Innovations Ltd.
Galit Mendelson, Vice President of Corporate Relations
201 944 5200 ext. 111
galit@otiglobal.com
MS-IR LLC
Investor Relations:
Miri Segal
917-607-8654
msegal@ms-ir.com
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