OTI Unveils Hera, a First-of-its-Kind Completely Automated Laser-Based Production Line for Dual Interface Smartcards
FORT LEE, N.J., Nov. 12 -- 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 will be showing a first-of-its- kind new and innovative, completely automated production line for Dual Interface Smartcards at Cartes 2007 in Paris, Booth #4 K 044. The fully automated production line is designed to support the growing demand for a Dual Interface that works with both contact and contactless applications, such as the EMV cards that the large card associations are starting to roll out, mainly in the payment sector in Europe; it is also designed to support governments in issuing and producing secured ID cards such as European Citizen cards. The new production line increases efficiency, speeds up the manufacturing process, saves on manpower and reduces the chance for human error.
The Hera Dual Interface manufacturing solution was designed and developed based on years of extensive experience and know-how at OTI's subsidiary, MCT, based in Shenzhen, China. The production line implements cutting edge technologies, such as laser soldering and vision systems, meant to provide customers with an advanced solution for manufacturing the most reliable and durable Dual Interface Smartcards in a cost effective manner. The solution is based on patented processes and on proprietary manufacturing methods and techniques. The machine increases the yield of qualified products, reduces the time spent on trouble-shooting, and is easy and relatively inexpensive to maintain.
In addition to the dual interface card production line, OTI has also designed and developed a series of electronic passport testing equipment to enable e-Passport manufacturers to independently run ICAO's durability tests and assure that best products are shipped to consumers. The lab equipment market consists of labs, GPOs and e-Passport manufacturers.
The Hera Solution will be demonstrated at OTI's booth at CARTES show in Paris.
Oded Bashan, Chairman and Chief Executive Officer of OTI said: "The Hera product line represents the most advanced solution offered to card manufacturers that are interested in supporting the growing Dual Interface cards market, for both the EMV and the ID cards markets. It combines patented processes and proprietary know how developed over years of experience. The automated production line allows manufactures to support large issuers and card products with minimum manpower and a cost effective and reliable process".
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, the content of which is not part of this press release.
CONTACT:
Galit Mendelson,
Director of Corporate Communications,
On Track Innovations Ltd.,
+1-201-944-5200, ext. 111,
galit@otiglobal.com;
