|Go to market news section|
26 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 a further contract 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 announced on 5 June 2017 that it had won a contract through Brownfield to supply 63 iTrack II systems at Ravensworth mine, owned by Glencore. Since then, Glencore have now ordered a further 44 iTrack II systems for trucks at their Rolleston mine.
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: "Adding Rolleston to our growing Glencore portfolio of mines is extremely gratifying. Three years of hard work is now beginning to pay dividends for both ourselves and a growing number of Glencore mines."
Graham Storey, CEO of Transense, said: "We are delighted to announce that Glencore are adding Rolleston mine to a growing number of adopters of iTrack II. Interestingly, this is the first mine contract we have won without an onsite trial being conducted which we believe is an indication of the increasingly high regard in which iTrack II is held."
For further information please visit www.transense.co.uk or contact:
Transense Technologies plc
Graham Storey, Chief Executive
Tel: +44 1869 238 380
Ed Frisby, Giles Rolls (Corporate Finance)
Tony Quirke, Alice Lane (Corporate Broking)
Tel: +44 20 7220 0500
Tim Metcalfe, Graham Herring, Heather Armstrong
Tel: +44 20 3053 8671
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.
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.
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
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").
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
|©London Stock Exchange plc. All rights reserved|