Last checked at 17 Aug 2016 07:00
17 August 2016
Tracsis plc
("Tracsis" or the "Group")
North American contract win
Tracsis plc, a leading provider of software and services for the traffic data and transportation industry, is pleased to announce that it has signed a significant order with a North American Class 1 railroad operator for its Remote Condition Monitoring (RCM) technology, which marks the Group's first major contract in North America.
Under the terms of the agreement, the initial order comprises the outright purchase of RCM hardware units, a software licence for the Group's data aggregation and analysis tool Centrix, and various ancillary products. The RCM units will be installed in the coming months across multiple geographic locations on the client's network. The total order value is in excess of $0.4m and is expected to be fulfilled before the end of 2016.
The Directors continue to view the US rail industry as being the largest and most accessible growth market for the Group's RCM technology. This latest contract win illustrates that Tracsis has the capability and product set to address this large overseas market opportunity, although the specific timing of further sales in new territories remains difficult to predict.
The Group will issue a full year end trading update on Monday 22 August 2016.
John McArthur, Chief Executive Officer, commented:
"We are delighted to have secured this significant order with a major class 1 operator having clearly demonstrated the business case and benefits of our remote condition monitoring technology. We are hopeful that this contract will lead to a further roll out across the client's network in the fullness of time and also act as a valuable reference case with other US rail customers."
For more information please contact:
John McArthur/Max Cawthra, Tracsis plc | Tel: 0845 125 9162 |
Dominic Emery/Matt Lewis, Investec Bank plc | Tel: 020 7597 4000 |
Rebecca Sanders-Hewett / Sarah Fabietti / Sam Modlin Redleaf Communications | Tel: 0207 382 4730 Tracsis@redleafpr.com |
The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation 9EU) No. 596/2014.
Notes to editors:
§ The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.
§ Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.
§ The Company offers the following services:
- Rail Technology & Services: Software and technology led consulting, and Remote Condition Monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.
- Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments.
§ Tracsis has a blue chip client base which includes the majority of UK transport operators. The business also works extensively with Network Rail, the Department of Transport, multiple local authorities, Silverstone, Goodwood, and a variety of large engineering/infrastructure companies.
§ The business drives growth both organically and through acquisition and has made eight acquisitions since 2008.
§ Tracsis listed on AIM in 2007 under ticker TRCS.
§ For more information visit http://www.tracsis.com