TIDMTRT
RNS Number : 0890H
Transense Technologies PLC
05 June 2017
5 June 2017
Transense Technologies plc
("Transense" or the "Company")
Glencore - Further Contract Win
Transense Technologies plc (AIM: TRT), the provider of sensor
systems for the transportation and industrial markets, is pleased
to announce that Translogik, its trading division providing tyre
management solutions, has won contracts through its Australian
distributor, Brownfield Engineering and Maintenance PTY LTD
("Brownfield") to supply iTrack II mining tyre monitoring systems
for large haul trucks to Glencore Mining ("Glencore").
The Company has previously announced that it won a contract
through Brownfield to supply 23 iTrack mining tyre monitoring
systems for large haul trucks to the Ravensworth mine, owned by
Glencore. Since then, Glencore have been evaluating the iTrack
system and have now approved the new iTrack II system for use in
its mines. Orders have been signed to upgrade the existing iTrack
systems at Ravensworth and add iTrack II to a further 40 trucks at
Ravensworth (63 iTrack II systems in total).
These systems are to be supplied on a rental and service basis
to Glencore via Brownfield. This method allows mining companies to
benefit from the productivity gains and overhead savings provided
by using the system without any of the associated capital cost,
while providing Translogik with a recurring revenue stream.
Darryl Crowder, CEO of Brownfield, said: "Ravensworth initially
chose iTrack after a competitive trial which has been followed by
extensive first hand experience. We are very pleased to have
achieved this milestone and are excited about the potential for
future growth with such a global company."
Graham Storey, CEO of Transense, said: "We are delighted to
announce that Glencore are adding the recently released iTrack II
system to their fleets and we look forward to our expanding
relationship on an international basis with one of the largest
mining companies in the world."
For further information please visit www.transense.co.uk or
contact:
Transense Technologies plc Tel: +44 1869 238 380
Graham Storey, Chief Executive
finnCap Tel: +44 20 7220 0500
Ed Frisby, Giles Rolls (Corporate
Finance)
Tony Quirke, Alice Lane
(Corporate Broking)
IFC Advisory Tel: +44 20 3053 8671
Tim Metcalfe, Graham Herring,
Heather Armstrong
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
Notes to editors:
About iTrack II
The iTrack II Mining system provides fast, accurate reliable
real-time data on the condition of the tyres, combined with live
tracking of vehicle location and status. Our 24/7 Control Room
monitors the pressures and temperatures live and this information
can for example be used to ensure tyres do not exceed critical heat
thresholds, detect incorrect load distributions, predict suspension
failures, eliminate manual tyre pressure checks and much more. All
of these benefits increase health and safety as well as reducing
maintenance and downtime, which maximizes the hours a truck is
working (On-Road Truck Working Hours), which directly correlates to
an increase in production.
Existing iTrack users have reported increases in tyre life up to
30% and fuel savings of up to 3%. Savings of this magnitude provide
rapid return on investment with the iTrack system paying for itself
in a matter of months and where the rental option is chosen the
system will pay for itself from day one.
http://www.trans-logik.com/itrack-2/
About Glencore
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 90 commodities. The Group's operations comprise around
150 mining and metallurgical sites, oil production assets and
agricultural facilities. With a strong footprint in both
established and emerging regions for natural resources, Glencore's
industrial and marketing activities are supported by a global
network of more than 90 offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in the
automotive, steel, power generation, oil and food processing
sectors. They also provide financing, logistics and other services
to producers and consumers of commodities. Glencore's companies
employ around 155,000 people, including contractors. Glencore is
proud to be a member of the Voluntary Principles on Security and
Human Rights and the International Council on Mining and Metals.
They are an active participant in the Extractive Industries
Transparency Initiative.
http://www.glencore.com/
About Brownfield Engineering and Maintenance PTY LTD
Brownfield provides maintenance and operational support to major
mining companies, with four facilities strategically positioned in
the Bowen Basin, Surat Basin, Hunter Valley & Perth -
Australia's premier mining locations.
Brownfield was formed with a focus on supporting the working
assets of the mining sector and has been integrated into three key
services offerings:
-- Products: mining and associated products
-- Engineering: engineering services to the mining industry
-- Maintenance: mining maintenance services
http://www.brownfield.com.au/home/
About Transense Technologies
Based in Oxfordshire, UK, Transense has developed
patent-protected sensor systems and supporting technology for use
in a variety of diverse high growth markets. Transense's Surface
Acoustic Wave (SAW) wireless, battery-less, sensor systems offer
significant advantages over legacy wireless sensor systems.
Transense is targeting the global transport and mining industries,
and the global torque, temperature and pressure sensing markets,
via its two trading divisions,Translogik and SAWSense.
Transense's shares are admitted to trading on AIM, a market
operated by the London Stock Exchange (AIM: "TRT").
www.transense.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTEAFKLEEXXEAF
(END) Dow Jones Newswires
June 05, 2017 02:00 ET (06:00 GMT)
Transense Technologies (LSE:TRT)
Historical Stock Chart
From Apr 2024 to May 2024
Transense Technologies (LSE:TRT)
Historical Stock Chart
From May 2023 to May 2024