Torotrak PLC Regulatory News (TRK)

27 Jun 2007 07:02

Torotrak PLC27 June 2007 27 June 2007 Agreement to develop prototype IVT for Fork-Lift Trucks Torotrak is pleased to announce that, following an initial investigativeprogramme (referred to in the preliminary results statement on 15 May 2007) witha leading manufacturer of vehicles for the materials handling sector, it has nowsigned an agreement with one of the world's foremost fork-lift truckmanufacturers to design and supply a prototype vehicle equipped with Torotrak'sInfinitely Variable Transmission ("IVT") to be used for testing and evaluation. This initial programme valued at approximately £450,000 will commenceimmediately and will complete during 2008. The prototype IVT fork-lift truck will demonstrate the technical capability andthe commercial advantages of Torotrak's technology within the materials handlingsector. It is expected to deliver an efficient, smooth and highly controllabledriving experience for the customer. Dick Elsy, CEO Torotrak plc said: "We are delighted to have secured thisprestigious new customer in the materials handling industry, which is a newsector for Torotrak. The development of this prototype IVT for one the world'sleading fork-lift truck manufacturers endorses the versatility and flexibilityof Torotrak's technology and our strategy to focus on specific sectors where ourtechnology can provide benefits over the traditional systems. This is anotherexample of the growing product and market portfolio which now characterises ourbusiness and which supports our growth plans". For further information: Dick Elsy, Chief Executive Simon Hudson Jeremy Deering, Finance Director Lulu Bridges Torotrak Plc Tavistock Communications Tel: +44 1772 900938 Tel: +44 20 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange