Last checked at 31 Oct 2019 07:00
31 October 2019
Starcom plc
("Starcom" or the "Company")
Kylos Air Partner Update
Starcom (AIM:STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets, announces an update on the use of the Company's Kylos Air product by Bosch Connected Devices and Solutions GMBH ("Bosch"), a subsidiary of Robert Bosch GmbH.
Since September 2017, the Company has had an agreement in place for the supply of Kylos Air products to Bosch, which is then marketed by Bosch as its own brand solution, the TDL140, as part of its suite of connected devices and solutions. Bosch is in the process of securing approval of the TDL140 with its various air freight customers, to enable sales of the product. The Company has been advised by Bosch that the TDL140 has been approved as an active tracking device by Swiss WorldCargo, the air freight division of Swiss International Air Lines Ltd, enabling its use on Swiss WorldCargo flights.
Whilst this approval is yet to lead to any additional orders of the Kylos Air and there can be no guarantee that this will lead to further orders, the board considers that this approval is an important step towards Bosch achieving sales of their own branded Starcom product. The board understands that Bosch has now been marketing this product to its extensive customer base for several months.
The Company has been advised by Bosch that it continues to undertake testing in order to achieve equivalent approvals and certifications from other airlines.
Avi Hartmann, CEO of Starcom, commented, "We have been working closely with Bosch since 2017 and we have been aware of the significant marketing effort they have committed to the Kylos Air over the past 12 months. We are very pleased, therefore, to see that Bosch is now showing the first results from this effort and in particular that Swiss WorldCargo has recognised that our technology is of the highest standard to justify their endorsement.
"While no additional orders have yet been placed with us by Bosch, we look forward to continuing our strategic collaboration with them. This new development is further confirmation of the advanced technical capabilities of Starcom's tracking products"
-ends-
For further information please contact:
Starcom Plc Michael Rosenberg, Chairman Avi Hartmann, CEO
|
07785 727595 +972 5477 35663 |
Allenby Capital Limited (Nominated Adviser and Joint Broker) James Reeve/Jeremy Porter/Asha Chotai
| 020 3328 5656 |
Peterhouse Capital Limited (Joint Broker) Lucy Williams/Charles Goodfellow/Eran Zucker
| 020 7469 0930 |
Leander PR (Financial PR) Christian Taylor-Wilkinson
| 07795 168 157 |
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