June 11, 2009 (FinancialWire) — On Track Innovations Ltd. (NASDAQ: OTIV) announced that its subsidiary, PARX Ltd., is expanding its parking solution, which includes the EasyPark in-vehicle electronic parking solution in Italy, with the addition of the northern municipalities of Asti, Bra and Rivarolo Canavese.

All three municipalities are located in proximity to Turin, one of the largest cities in Italy. EasyPark was introduced by PARX and Neos Tech in Italy in late 2008 under the name Neos Park.

Roberto Russo, Bra’s Transportation Local Councilor commented, “Bra has decided to be among the first cities to adopt Neos Park in order to meet its citizens’ needs. Neos Park is a useful system with which one may pay only for the exact amount due, eliminating the need to look for coins and parking meters and getting rid of the anxiety of having to return to the car because the pre-paid time expires. It is a cost effective and a very convenient solution.”

Esther Cobos, CEO of Neos Tech S.r.l. commented, “In Alessandria, where Neos Tech first launched Neos Park, the system has quickly reached 5% penetration rate out of the vehicles in the city. In a survey conducted by Neos Tech, 100% of users described their experience with Neos Park as very positive, indicating among main benefits: “you save money,” “it’s practical and simple,” “you pay only for the exact time you park,” and more.

Established in 1990, OTI designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.