Harmon Industries
NASDAQ: HRMN
For Immediate Release
Charles M. Foudree
(816) 229-3345
[email protected]
Global Leaders in Signal & Train Control
Partner on AATC Technology
BLUE SPRINGS, MO. (Monday, June 1 1998) - Harmon Industries, Inc. has signed a Cooperation Agreement with Japan's Nippon Signal Co. Ltd. to collaborate on the worldwide implementation of Harmon's Advanced Automatic Train Control system (AATC). Harmon Industries And Nippon Signal Sign Agreement
"Nippon Signal has long been a respected member of the signaling industry and we are proud to partner with them," said Björn E. Olsson, president and chief executive officer of Harmon Industries, Inc. "Our partnership combined with the revolutionary implications of AATC technology will place both companies in the forefront of the train control industry."
Under this agreement, Harmon will sublicense the AATC technology to Nippon Signal for installation in various Asian nations. In addition, Harmon and Nippon Signal will utilize their complementary talents to build a common AATC platform to be jointly marketed throughout the world.
"Nippon Signal is proud to enter into this partnership with Harmon." said Osanori Miyaji, president of Nippon Signal. "Based on the Harmon AATC technology, Nippon Signal and Harmon will develop a new generation of train control systems for applications around the world."
Harmon Industries was recently awarded an exclusive license agreement for the AATC technology by Hughes Aircraft Company. The agreement provides Harmon with manufacturing and marketing rights for the system's unique data radio network technology, which can be applied to transit control systems throughout most parts of the world. Since licensing the technology, Harmon was awarded a contract in excess of $45 million to implement AATC for the San Francisco Bay Area Rapid Transit District (BART).
Based on the Enhanced Position Location Reporting System (EPLRS), the AATC system is a highly reliable, wireless data communication network with the ability to accurately determine the location, speed and direction of vehicles. The AATC system installed for BART controls trains moving at 90-second headways and operating at 80 miles per hour.
Harmon Industries, Inc. is a leading supplier of signal, inspection and train control products to freight and rail 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 and chief financial officer, Harmon Industries, Inc., 1300 Jefferson Court, Blue Springs, MO 64015. The telephone number is (816) 229-3345.
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