Harmon Industries
NASDAQ: HRMN
For Immediate Release
Charles M. Foudree
(816) 229-3345
[email protected]
Harmon Industries Wins Major New Orders
BLUE SPRINGS, Mo. (Monday January 19, 1998) -- Harmon Industries Inc., a leading supplier of signal and train control products to railroad and rail transit systems throughout North America and the world, announces that it has received orders for carborne products in excess of $9 million.
Harmon will supply locomotive manufacturers with multi-territory Ultra Cab II units for installation in the latest model of AC traction locomotives. Details of the orders, including participating companies, are not being disclosed. Ultra Cab II is a microprocessor-based train control unit that enables passenger and freight railroads productivity to rise by increasing the number of trains operating on the same track safely. These major new orders further demonstrate the technological leadership position that Harmon holds in this market. The delivery of the units will be completed in 1998.
"This order reflects the increased demand for new locomotives brought about by merger activities and an increase in North American rail traffic," said Björn E. Olsson, president and chief executive officer of Harmon Industries, Inc. "We are pleased at the additional opportunity to partner with locomotive manufacturers in offering cost-effective solutions to railroads."
Harmon Industries, Inc., is a leading supplier of signal 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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