RF Industries Announces Order for Honolulu Rail Transit Project
29 November 2018 - 8:05AM
via NEWMEDIAWIRE -- RF Industries, Ltd, (NASDAQ: RFIL), a
national manufacturer and marketer of interconnect products and
systems, today announced that it has received an order from
STANLEY Access Technologies, a division of STANLEY Security,
(https://www.stanleyaccess.com/doors/transit-doors-gates) to
provide wiring harnesses and electro-mechanical assemblies on
behalf of the Honolulu Rail Transit Project, an urban rail rapid
transit system under construction in Honolulu County that will
connect Pearl Harbor memorial to Honolulu airport. The wiring is
for platform screen doors designed to keep pedestrians safe from
the railway.
“We are delighted to receive this order and to
continue our participation in this project as the sole provider of
wiring harnesses and electro-mechanical assemblies for the next
phase of construction,” said Robert Dawson, President and CEO
of RF Industries. “This order represents a nice win for our
OEM business, and a further diversification of our business within
the transportation sector. The award of this additional business
reflects our ability to provide high quality products with a fast
turnaround time and a high attention to customer needs and
details.”
The entire Honolulu Rail Transit Project includes
21 stations. RF Industries participated in a partnership role in
the completion of the first nine stations and beginning with this
order, the Company will be solely providing the assemblies on the
next four stations, which are expected to be completed by April
2019. RF Industries is also optimistic it will be able to
participate in the building of the remaining eight stations.
The Honolulu Rail Transit Project was
established in 2005 with the support of federal, state and local
officials to provide an efficient and reliable transportation
alternative for Honolulu's congested urban corridor. The project
provides for a rail transit route running from East Kapolei to Ala
Moana Center, with stations at 21 key commuter and visitor
destinations, including Aloha Stadium, Pearl Harbor, Honolulu
International Airport and downtown Honolulu, Oahu's core commercial
and business center. The elevated rail system will not be
affected by accidents or congested streets and highways and will
deliver riders to their destination on time, every time. The first
section of the rail system, from Kapolei to Aloha Stadium, is
slated to begin operating in 2020, and the entire route will be
operational in 2025 when the remaining segment to Ala Moana Center
is completed.
About RF Industries
RF Industries designs and manufactures a broad
range of interconnect products across diversified, growing markets
including wireless/wireline telecom, data communications and
industrial. The Company's products include RF
connectors, coaxial cables, wire harnesses, fiber
optic cables and custom cabling. The Company is
headquartered in San Diego, California with operations in New York
and Connecticut. Please visit the RF Industries website
at www.rfindustries.com.
Forward-Looking Statements
This press release contains forward-looking
statements with respect to future events, including higher sales,
increased future demand for the Company's products, improved
margins, and improved profitability, which are subject to a number
of factors that could cause actual results to differ
materially. Factors that could cause or contribute to such
differences include, but are not limited to: changes in the
telecommunications industry; the Company's reliance on certain
distributors for a significant portion of anticipated revenues; the
impact of existing and additional future tariffs imposed by U.S.
and foreign nations; the Company's ability to execute on its new
go-to-market strategies and channel models; its ability to expand
its OEM relationships; its ability to continue to deliver newly
designed and custom fiber optic and cabling products to principal
customers; its ability to maintain strong margins and diversify its
customer base, and its ability to address the changing needs of the
market. Further discussion of these and other potential risk
factors may be found in the Company's public filings with the
Securities and Exchange Commission (www.sec.gov) including its Form
10-K. All forward-looking statements are based upon
information available to the Company on the date they are published
and the Company undertakes no obligation to publicly update or
revise any forward-looking statements to reflect events or new
information after the date of this release.
RF Industries, Ltd.
Mark Turfler
SVP/CFO
(858) 549 6340
rfi@rfindustries.com
MKR Group Inc.
Todd Kehrli
Analyst/Investor Contact
(323) 468-2300
rfil@mkr-group.com
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