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GENERAL SIGNAL RECEIVES $30 MILLION CONTRACT FROM U.S. POSTAL SERVICE

GENERAL SIGNAL RECEIVES $30 MILLION CONTRACT FROM U.S. POSTAL SERVICE
 STAMFORD, Conn., July 16 /PRNewswire/ -- General Signal Corporation (NYSE; GSX) announced today that its GFI-Genfare unit has received a $30 million contract to manufacture high security postage vending machines for the United States Postal Service (USPS). The contract has the potential for options of up to an additional $23 million.
 These vending machines will accept currency ($1, $5, $10, and $20), coins and, optionally, credit cards for the sale of stamp booklets (4 varieties) and individual stamps (2 varieties) from rolls of stamps. The units will be capable of making change and can be electronically reprogrammed for changes in postage rates. Much of the core technology for this contract came out of GFI-Genfare's ticket and token vending expertise for public transit markets.
 The USPS has 34,000 postal offices and all are candidates for this product. Additionally, the units may be installed in shopping malls, USPS kiosks, banks, etc. Much of the technology of these machines could be applicable to other international postal systems.
 The base contract calls for deliveries to begin in 1993 and be completed by late 1994, at which time the USPS may elect to exercise its option to extend the contract.
 General Signal Corporation, with 1991 sales of $1.62 billion, is a leading manufacturer of equipment and instruments for the process control, electrical, semiconductor and telecommunications industries.
 -0- 7/16/92
 /CONTACT: Nino J. Fernandez, vice president of General Signal, 203-357-8800/
 (GSX) CO: General Signal Corporation ST: Connecticut IN: CPR SU: CON


TQ-OS -- NY089 -- 9879 07/16/92 15:10 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
Words:267
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