Comet Industries Acquires the RailNet ™AEI Product Line of SAIC™
KANSAS CITY, Mo. (Oct. 19th 2010) – Comet Electronics a subsidiary company of Comet Industries is pleased to announce that it has acquired the RailNet™ Automatic Equipment Identification (AEI) product line of, Science Application International Corporation.
The transaction closed September 21st, 2010. With this acquisition, all existing products and services of Comet Communications & Signal, Inc. related to the sales and service of AEI and communications products have been transferred to a new subsidiary, Comet Electronics, LLC.“This is a very positive development for our company and the rail communications industry as a whole,” said Steve Woodson, President and CEO of Comet Industries. Comet’s purchase is the culmination of a ten-year migration of the RailNet™ product line from SAIC™. Comet started working in AEI by performing system site installations in 2000, and began direct marketing to the shipper, short line and regional markets in 2001 as a Value Added Reseller. In 2007, Comet assumed responsibility for product support and warranty repair of the line. With the closing of this transaction, Comet now controls the complete RailNet™ product line and will continue to refine the hardware and software. Comet views this transaction as the creation of the rail market’s new dominant AEI supplier, being the only vendor with products for the Shipper, the Regional / Short Line, and Class 1 markets. What won’t change will be Comet’s focus on customer service and quality. About Comet Industries Comet was founded in 1963 to install and service a Class 1 Railroad's microwave communications network. Still a main supplier to that railroad’s operation, Comet Industries is a corporation comprising four subsidiaries: the new Comet Electronics, LLC; Comet Communications & Signal, Inc. - providing contract communications maintenance and installation to the rail industry; Comet Rail Products, Inc. - supplying new railcar parts and reconditioned bolsters and side frames to railroads and car repair facilities; and Comet Industrial Products, Inc. - selling and servicing Generac™ Power Systems residential, commercial and industrial generators.For more information, visit www.cometind.com.
### For further information please contact: Matt Friel or John Killian, Comet Electronics Comet Industries, (816) 245-5400.