Announcement
Transense Technlgy : Translogik iTrack Contract Win in new Territory
RNS Number : 9732G
Transense Technologies PLC
12 November 2018
Transense Technologies plc
("Transense" or the "Company")
New Translogik iTrack Contract Win in new Territory
Transense Technologies plc, the provider of sensor systems for the industrial, mining and transportation markets, is pleased to announce that Translogik, its trading division providing tyre management solutions, has won a contract to supply 24 iTrack II mining tyre monitoring systems including the full suite of Data Analytics for large haul trucks at Southern Copper's Cuajone mine in Peru.
These systems are to be supplied on a subscription model basis. 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 Transense with a recurring revenue stream.
Josue Vilchez, General Chief Mine Operation, said: "We have conducted extensive trials over the course of the last 18 months with all of the current market leading systems and we have concluded that iTrack is the best TPMS system in the mining environment available. We are very keen to start operations with iTrack II which will allow us to immediately benefit from the increase in production and health and safety that iTrack provides. The system will initially be installed on our Cat 797F Haul Truck fleet however, we expect iTrack will subsequently be rolled out to our extended fleet in Peru which amounts to a further 100 trucks."
Graham Storey, CEO of Transense, said: "This is further validation of the superior qualities of the iTrack system over and above any other system available in the market today. Southern Copper's decision to adopt the entire suite of Data Analytics is an indication of the increasing awareness of the value of the analytical data that our 24/7 Monitoring and Analytics centre in Chile produces which greatly enhances the overall value of the system."
For further information, please visit www.transense.co.uk or contact:
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Transense Technologies plc Graham Storey, Chief Executive
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Tel: +44 1869 238 380 |
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finnCap (Nomad and Broker) Ed Frisby, Giles Rolls (Corporate Finance) Tim Redfern (Corporate Broking)
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Tel: +44 20 7220 0500 |
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.
About Southern Copper
SCC is one of the largest integrated copper producers in the world. They produce copper, molybdenum, zinc, lead, coal and silver. All their mining, smelting and refining facilities are located in Peru and Mexico and they conduct exploration activities in those countries and Chile. Since 1996, their common stock is listed on both the New York and Lima Stock Exchanges.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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