Harmon Industries
NASDAQ: HRMN
For Immediate Release
Charles M. Foudree
(816) 229-3345
[email protected]
Harmon Acquires Devtronics, Inc.
BLUE SPRINGS, MO. (MONDAY, NOV. 10, 1997) -- Harmon Industries, Inc., a leading supplier of signal and train control products to freight and transit systems throughout North America and the world, announced that it has acquired Devtronics, Inc., an Atlantic Beach, Florida-based supplier of equipment and services to the railroad industry since 1978.
Devtronics' products include a line of highway grade crossing event monitoring and alarm equipment with central reporting and networking capabilities for automatic alarm and maintenance reporting. They also supply hot box defect detector signal processing equipment and other stand-alone defect detector products such as high load, wide load, and dragging equipment.
Harmon Industries acquired Devtronics in order to offer a broader range of products to its railroad customers. Devtronics will continue to operate from its current location with existing personnel.
"This acquisition is part Harmon's ongoing strategy to offer our customers the most comprehensive range of products possible," said Björn E. Olsson, Harmon president and chief executive officer. "As railroads continue to make improvements to advance capacity and safety, Harmon will continue to add products and services to meet their needs."
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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