Transense Technologies PLC iTrack Contract Win (5857Q)
February 20 2019 - 2:30AM
UK Regulatory
TIDMTRT
RNS Number : 5857Q
Transense Technologies PLC
20 February 2019
Transense Technologies plc
("Transense" or the "Company")
iTrack Contract Win
Transense Technologies plc, the provider of sensor systems for
the transportation, automotive, avionic and industrial markets, is
pleased to announce that Translogik, its trading division providing
tyre management solutions, has won a further contract through its
Ghanaian partner WATS (West African Tyre Services) to supply 41
iTrack II mining tyre monitoring systems for haul trucks at BISSA,
a Nordgold mine in Burkina Faso.
These systems are to be supplied on a rental and service basis
via WATS, which is a wholly owned subsidiary of Rana Motors &
Metal Works Engineering Company Ltd. 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.
Vibi Chandra, Director, Sales & Services Director, OTR
Tyres, WATS, said: "The considerable advantages that Nordgold have
seen at their sister mine SOMITA, where we installed iTrack in May
2018, have persuaded Nordgold to adopt the system at BISSA. As we
have previously stated, West Africa is a region with dozens of
mines and hundreds of haul trucks and it is our intention to
introduce our new enhanced service, including iTrack, to our
existing portfolio of mines as well as other mines across the
region. We know these mines are very interested in the significant
advantages we are now able to offer and we fully expect further
advances and new contracts in the future."
Graham Storey, CEO of Transense, said: "We are very pleased to
have added another Nordgold owned mine in West Africa to our
growing list of iTrack users. WATS are a well-established and
highly regarded tyre service provider in West Africa and with their
depth of contacts we are hopeful of an accelerated rate of adoption
moving forward."
For further information, please visit www.transense.co.uk or
contact:
Transense Technologies plc Tel: +44 (0) 1869
Graham Storey, Chief Executive 238 380
finnCap (Nomad and Broker) Tel: +44 (0) 20 7220
Ed Frisby, Giles Rolls (Corporate Finance) 0500
Tim Redfern (ECM)
IFC Advisory Tel:+44 (0) 20 3934
Tim Metcalfe, Graham Herring, Heather Armstrong 6630
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 maximises 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 of up
to 30% and fuel savings of up to 3%. Savings of this magnitude
provide a 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.
www.trans-logik.com/itrack-2/
About WATS
WATS is a leading provider of earthmover/off-the-road tyre
management services to the mining industry. Their credentials are
based on a proven ability to reduce the cost of earthmover tyre
operation for major open-pit miners while maximising production and
enhancing safety. Advanced engineering systems and innovative
maintenance, analysis and reporting technologies combine to
consistently reduce client tyre costs, typically by 20% or more. As
an independent technical adviser and service provider to mining
companies in West Africa, WATS has established an impressive track
record.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
CNTZMGZZRGVGLZG
(END) Dow Jones Newswires
February 20, 2019 03:30 ET (08:30 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