Harmon Industries
NASDAQ: HRMN
For Immediate Release
Charles M. Foudree
(816) 229-3345
[email protected]
Harmon Subsidiary Awarded Railtrack Contract
BLUE SPRINGS, Mo. (Nov. 10, 1997) -- Harmon Industries Inc., a leading supplier of signal and control equipment for railroad and rail transit systems throughout North America and the world, announced that its British subsidiary, Vaughan Harmon Systems Ltd., has been awarded a contract of approximately $10 million by Railtrack for the replacement of the signalling on the Cromer Branch line in Norfolk, England.
Work for this contract will take place in two phases, the first of which will begin in January 1998 and involve preparation for the project and approval of the proposed signalling equipment. The second phase will include design, manufacture, installation and commissioning of the new signalling system. The system will involve the first use in Europe of the Harmon Industries' VHLC electronic interlocking and HXP3 level crossing controller, both of which are used extensively in North America, as well as a Vaughan Harmon PC-based signalling control (or office) system. This work follows two previous contracts, totaling $5 million, for which Vaughan Harmon is supplying Train Describers at Motherwell and Glasgow Central and at Edinburgh in Scotland for Railtrack.
Björn E. Olsson, Harmon's president and chief executive officer, was present for the contract signing in London, which was performed by Professor Brian Mellitt, Railtrack's director, engineering and production.
"We are excited about the chance to further our relationship with Railtrack," said Olsson. "and for the opportunity to demonstrate the combined capabilities of Harmon Industries and Vaughan Harmon, and applying the latest technology in signalling systems."
Harmon Industries acquired Vaughan Harmon in July of 1996 as part of the company's strategy to increase its presence in the international market. The company expects the success of Vaughan Harmon to continue as Railtrack fulfills its very aggressive capital expenditure plan throughout the next ten years.
"We are very pleased with the progress that Vaughan Harmon has made since its acquisition last summer," said Olsson. "Vaughan Harmon and its position in the U.K. market continue to play a significant role in Harmon Industries' initiative to expand our international market share."
Harmon Industries, Inc. is a leading supplier of signal and train control products to freight and transit systems throughout North America and the world. The company is traded in the over-the-counter market and is quoted on the NASDAQ National Market System under the symbol HRMN. For further information, please contact Charles M. Foudree, Executive Vice President-Finance, Harmon Industries Inc., 1300 Jefferson Court, Blue Springs, MO 64015. The telephone number is (816) 229-3345.
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