| Westford,
Massachusetts -- September 20, 1999 -- GenRad,
Inc. (NYSE: GEN) today announced that it has begun initial
shipment of a global diagnostic system into North American
dealerships of a major U.S. automotive OEM. Under a contract
entered into in 1997, GenRad will supply units to the
franchised dealerships throughout the world. The scope
of the contract includes the supply of software development
tools, diagnostic applications authoring and hardware
systems throughout the world to the OEM’s dealerships.
The North American launch includes the U.S., Canada
and Mexico. Shipments to the European dealers began
in Q2 of 1999. Shipments are expected to continue throughout
the world on a scheduled basis through 2001.
This system replaces several diagnostic tools currently
being used by the OEM automotive dealers. It was selected
as the diagnostic system of choice for its ability to
keep pace with the rapidly advancing vehicle technology
worldwide. It provides diagnostic information for all
specified brands of this automobile maker beginning
with the model-year 1996 and going forward.
Paul Geere, President of GenRad’s Advanced Diagnostic
Solutions (ADS) business unit commented, "The initial
shipment of these units into North America represents
a milestone for GenRad. We are very pleased to have
been selected as the premiere automotive diagnostic
solution provider for this major automotive manufacturer."
GenRad Background
GenRad, Inc. provides electronics OEMs and their customers
with the hardware, software and services to increase
productivity by optimizing product design, manufacturing
and after-market service. GenRad, headquartered in Westford,
MA, offers products and services through three business
units: Advanced Diagnostic Solutions (ADS), Electronic
Manufacturing Solutions (EMS), and GR Software (GRS).
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 performance,
product capabilities and markets and statements such
as "are expected to" 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 1998 Annual
Report on Form 10-K for the fiscal year ending January
2, 1999 and form 10-Q for the quarter ended July 3,
1999 under the section "Management’s Discussion
and Analysis of Financial Conditions and Results of
Operations – Factors That May Affect Future Results." |
