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FORMATION, INC. SIGNS $4 MILLION MANUFACTURING CONTRACT WITH PANASONIC TRANSPORTATION SYSTEMS COMPANY
First of
660 Digital Communication Systems for MTA New York City Moorestown, NJ (May 25, 2005)...Formation, Inc., designer and manufacturer of hardware and software for the aviation, data communications, defense and transportation industries, and Panasonic Transportation Systems Company, division of Panasonic Avionics Corporation, recently signed a definitive contract for the manufacture of 660 Digital Communication Systems under the MTA NYCT R160 Subway Car program. Formation worked with Panasonic to deliver the first system on January 27, 2005 to ALSTOM Transportation Inc. and Kawasaki Rail Car Inc., the two Carbuilders under the R160 subway car procurement. “The communications and security needs for rail cars and buses are a priority for public transit authorities as well as passengers. The systems we design have to be manufactured according to exacting specifications. Formation has been nothing short of magnificent in meeting our requests,” said Jeff Sare, Managing Director, Panasonic Transportation Systems Company. “They met all of our quality requirements on the first try, modified their manufacturing environment to accommodate our design and consistently met all of our deadlines. They have been absolutely superb to work with and we look forward to fulfilling the full order with them.” According to Sare, under the R160 program, Panasonic Transportation Systems has contracts with both ALSTOM and Kawasaki to provide the Communication System, Trainline Multiplexer (TMS) and Trainline Controller (TLC) for up to 1,700 R160 subways cars. Under the first phase of the R160 project, 660 rail cars have been ordered and will be built. The contract contains options for up to 1,040 additional rail cars that MTA NYCT may exercise at its discretion. The prototype cars will be delivered to MTA NYCT later in 2005 and continue through 2008. The value of Formation’s contract is four million dollars with production into 2007. Options on the contract are worth an additional seven million dollars with production into 2010. Components of the digital communication systems include automated announcements, railcar data displays and PA systems for communication between the conductor and passengers. “We are very pleased to be part of the team that builds one of the largest rolling stock procurements in the world. This contract allows Formation to do what it does best – build complex electronics with precision and accuracy, quickly and cost-effectively,” said R. Nim Evatt, President and CEO of Formation, Inc. “We have a long history of manufacturing excellence for OEMs around the world and look forward to continuing this tradition with Panasonic by demonstrating Formation’s ability to execute and perform.” Formation will manufacture the digital communication systems at its Moorestown, NJ production facility. The systems will be installed on the railcars at Alstom’s factory in Hornell, New York and Kawasaki’s factory in Yonkers, New York. About Panasonic Transportation Systems Company Panasonic Transportation Systems Company, division company of Panasonic Avionics Corporation, is a supplier of high quality electronics, communication equipment and security systems to the public transportation industry. Panasonic Avionics Corporation is the world's leading supplier of in-flight entertainment and communication systems. It is a subsidiary of Panasonic Corporation of North America. Panasonic Corporation of North America is the principal North American subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE: MC) and the hub of Panasonic's US marketing, sales and service and R&D operations. Additional information on Panasonic Avionics Corporation is available at www.panasonic.aero. Additional information on Matsushita Electric and Panasonic is available at www.panasonic.com. About Formation, Inc.
Formation, Inc. of Moorestown, NJ, USA provides a broad range of products and services to the aerospace, data communications, defense and transportation industries, including ruggedized disk products, avionics-class servers and Wireless Access Points, mobile gateway/router/firewall equipment and the Advanced Integrated Recorder. Formation also offers custom engineering and manufacturing services. For information call +1 856.234.5020.
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Company Contact: Gene Lovely +1 (856) 380-2926 genel@formation.com
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