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(Alliance News) - Starcom PLC said Wednesday it has signed three year supply and support agreement with US shipping serviced provider CubeMonk Inc, following the successful trial.
Wireless solutions firm Starcom said the agreement is for the supply and support of its Kylos Air technology units, which will be used as part of CubeMonk's tracking service for air containers.
Kylos Air units are connected through Starcom's online control software, and monitors key container parameters including location, internal temperature and shocks experienced, the company noted.
Starcom said it has been working with CubeMonk over the last year to implement Kylos Air technology for shipping solutions. The trial phase was successfully completed in 2019, the company said, with "very positive feedback from the end users in the trial."
Although the new agreement does not contain minimum purchase commitments, the company anticipates a "significant increase" in orders to Kylos Units in the current year. In 2019, the company received orders totalling USD200,000 from CubeMonk.
Chief Executive Officer Avi Hartmann said: "Following the successful trial, we are proud to have reached this important milestone in our relationship with Cubemonk in the US.
"This contract, along with others under active negotiation, demonstrates the significant opportunity for Starcom to expand its original equipment manufacturer strategic partnerships with companies that will benefit from our proven technology to enhance their respective businesses."
Starcom shares were trading 9.4% higher in London at 1.26 pence each on Wednesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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