GenRad Wins $4.5 Million Contract With MAN Nutzfahrzeuge AG for Integrated Manufacturing and Service Bay Solution.WESTFORD Westford, town (1990 pop. 16,392), Middlesex co., NE Mass., a suburb of the greater Boston area; settled 1653, set off from Chelmsford and inc. 1729. Although chiefly residential, there are apple orchards, granite quarries (which have long been in operation), and a , Mass.--(BUSINESS WIRE)--Oct. 20, 1998--GenRad, Inc. (NYSE NYSE See: New York Stock Exchange :GEN) today announced that its Advanced Diagnostic Solutions (ADS) business unit in Munich Munich (my  `nĭk), Ger. München (mün`khən), city (1994 pop. 1,255,623), capital of Bavaria, S Germany, on the Isar River near the Bavarian Alps. , Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). and Stockport, UK has been selected by MAN Nutzfahrzeuge AG, in Munich, Germany to provide a fully integrated manufacturing and service bay solution in a deal expected initially to be worth $4.5 million. MAN Nutzfahrzeuge AG is one of Europe's leading manufacturers of commercial vehicles. The first manufacturing solution will be installed in 1999 at MAN's Munich plant, with three other plants to follow in Steyr and Vienna, Austria and a second facility in Germany. The system will be used for configuration and test of sub assemblies and final vehicles. The MAN-cats II system will be deployed in the service bay. This is a PC-based solution using RF technology to communicate with the vehicle. MAN has over 1500 service outlets globally. The diagnostic applications for MAN-cats II will be authored using the GenRad Applications Development Environment (GRADE). Paul Geere, GenRad's President of Advanced Diagnostic Solutions, commented, "We are delighted to be able to announce this new business and look forward to working with MAN Nutzfahrzeuge AG, a leading company in the European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. Motor Vehicle Industry. We believe that it clearly demonstrates how GenRad is able to support the complete lifecycle of complex, electronically controlled vehicles from design through manufacturing to service." Ralf Sperling, Project Manager at MAN Nutzfahrzeuge AG, stated, "GenRad Advanced Diagnostic Solutions has brought to us its technology and diagnostic expertise. It has been able to offer a complete and integrated solution that will support our goals for time -to-market and product quality." MAN Nutzfahrzeuge AG Background MAN Nutzfahrzeuge AG is the largest company in the MAN group, which is one of Europe's leading producers of capital goods Capital Goods Any goods used by an organization to produce other goods. Notes: Examples of capital goods include office buildings, equipment, and machinery. See also: Capital Expenditure, Disinvestment Capital goods with a turnover of 21 billion DM and 62,500 employees. The group is a systems supplier in the fields of commercial vehicle manufacturing, machinery and plant construction and in the industrial services sector world-wide. GenRad Advanced Diagnostic Solutions (ADS) Background Advanced Diagnostic Solutions, headquartered in Stockport, England, is a leading global supplier of diagnostic and information solutions, specializing in complex electrical and electronic systems for automotive, aerospace, agricultural, construction and related industries. GenRad Background GenRad, Inc. provides electronics OEMs and their customers with the hardware, software, inspection systems and services to optimize optimize - optimisation design, manufacturing and after-market service productivity. GenRad, headquartered in Westford, MA, offers products and services through three business units: Advanced Diagnostic Solutions (ADS), Electronic Manufacturing Systems (EMS), and GR Software (GRS GRS Graduate School (universities) GRS Great Red Spot (feature of Jupiter) GRS Gender Reassignment Surgery GRS Gamma Ray Spectrometer GRS Graduation Rate Survey GRS General Records Schedules ). GenRad's web site address is http://www.genrad.com. GenRad's most current shareholder information is available by visiting our Website at http://www.genrad.com or calling our Fax on Demand Service at (800) 469-1261. Statements made in this press release which are not historical, including statements regarding future revenue, product demonstration, product capabilities and markets and statements using terms such as "expected to be" and similar phrases are forward looking statements and as such are subject to a number of risks. Factors that may cause results to differ materially from those projected are discussed in GenRad's 1997 Annual Report on Form 10K for the fiscal year ended January 3, 1998 and Form 10-Q Form 10-Q See 10-Q. for the quarter ended July 4, 1998 under the section "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Conditions and results of Operations - Factors That May Affect Future Results." |
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