HERES THE RNS OUT5 May 2023 08:34
t42 IoT Tracking Solutions plc
("t42" or the "Company")
New strategic partnership with Israel's largest port
t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company") is pleased to announce that it has been selected from hundreds of companies offering innovative initiatives to provide its technology and to work in partnership with Ashdod Port (the "Port"), Israel's busiest container gateways (the "Partnership").
The "Innovation at Ashdod Port" program aims to improve global supply chains. The Port's management reviewed hundreds of companies and selected t42 to work in partnership with, as well as agreeing to promote the Company's tracking solutions. The Partnership will promote the Company's solutions and services, with the aim of improving demand and value proposition.
The Port will actively promote t42 products among its worldwide partners within both maritime and shipping container markets, including global cargo and shipment companies, providing an opportunity to enhance their collaboration and synchronization processes by utilizing the tracking solutions offered by t42. This promotion and the Partnership thus creates a potential business opportunity for the Company.
As part of this initiative, the Port will execute a pilot program with the Company to enhance internal activities and processes for greater efficiency by installing t42 operated units at the Port's service zones and containers, to track and forecast supply movements accurately.
Avi Hartmann, CEO of t42, commented: "Our technology has been selected for the Ashdod Port innovation program, demonstrating confidence in the ability of our solutions to save time and money at one of Israel's largest ports. We expect the new strategic partnership to increase awareness of our supply chain solutions among major global cargo companies, and we look forward to signing new contracts following this partnership."
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