Announcement
Transense Technlgy : iTrack Contract Win
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:
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Transense Technologies plc Graham Storey, Chief Executive
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Tel: +44 (0) 1869 238 380 |
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finnCap (Nomad and Broker) Ed Frisby, Giles Rolls (Corporate Finance) Tim Redfern (ECM)
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Tel: +44 (0) 20 7220 0500 |
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IFC Advisory Tim Metcalfe, Graham Herring, Heather Armstrong |
Tel:+44 (0) 20 3934 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.
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.
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