Last checked at 31 May 2012 07:00
RNS For Release: May 31 2012
Translogik iTrack System Successfully Completes Trial in South Africa with one of the world's largest mining companies
Transense Technologies plc ("Transense") (AIM: TRT), the provider of sensor systems for the transportation and industrial markets, is pleased to announce that its trading division, Translogik ("Translogik") has been advised by one of the world's largest mining companies (the "Customer"), that its iTrack Tyre Temperature and Pressure Monitoring System for mining and off-the-road vehicles, has successfully completed field trials and is now an approved product for deployment in the southern African region.
The Customer is initially focussing on fitting the iTrack system to its haul trucks while also considering fitment to its ancillary mine vehicles, more than doubling the potential number of vehicles requiring the system.
Background to the trials
The field trials began In February 2012, when two Komatsu trucks were fitted with the iTrack system. The Customer provided Translogik with a list of key performance indicators ("KPIs") that the system would need to meet in order to be used within its mines in Southern Africa following a formal Request for Information ("RFI") document in respect of 1,300 haul trucks. At a recent meeting between senior Management of the Customer and Translogik's Management Team, the Company was advised that all the KPIs had been met or exceeded and that consequently the iTrack system is approved for use in the southern African region. Senior representatives of the Customer from other countries were also present at this meeting and there will be further opportunities for Translogik to pursue in additional territories and sites.
Background on iTrack
iTrack provides a rugged and reliable solution with a range of features that allow mine operators to track their vehicles in real-time and receive early warning of potential problems or hazards. This live data allows swift remedial action to be taken, which can be the difference between safe mine operation and a major incident. By ensuring the vehicle's tyres are operating within recommended temperature and pressure limits, iTrack brings increased levels of safety to both the vehicle drivers and the technicians that work on them. From a commercial perspective, by ensuring that tyres are correctly inflated, tyre life is extended and costly down-time from repairs and intervention is reduced, improving productivity.
Graham Storey, CEO of Transense, commented: "We are absolutely delighted that the iTrack system has successfully proven itself in tough and demanding conditions. One of the world's largest mining companies has seen the benefits iTrack brings to mine vehicle management during the trial, with the system alerting them to an instance of over-inflation, which had it been left unchecked could have led to a major tyre failure. We believe the ability of the system to reduce these incidents provides a compelling business case for the system with a rapid return on investment. A single tyre can cost up to US$80,000 and a truck being off the road for an unscheduled tyre change can take several days and cost a mine hundreds of thousands of dollars in lost productivity. We are hopeful that the Customer will begin deploying the iTrack system within its mines in southern Africa and its many global sites in due course, and we will make further announcements as appropriate."
For further information, please contact:
Transense Technologies plc | Tel: +44 (0) 1869 238 380 |
Graham Storey, Chief Executive | |
N+1 Brewin - Nominated AdviserAubrey Powell | Tel: +44 (0)20 3201 3710 |
Hybridan LLP - Broker | Tel: +44 (0) 20 7947 4350 |
Claire Noyce, Deepak Reddy | |
Newgate Threadneedle | Tel: +44 (0) 20 7653 9850 |
Caroline Evans-Jones, Robyn McConnachie |
Notes to Editors
About Transense Technologies
Based in Oxfordshire, UK, Transense has developed patent-protected sensor systems for use in diverse high growth markets. Developed in conjunction with partners including McLaren Electronic Systems and General Motors, Transense's Surface Acoustic Wave (SAW), wireless, battery-less, sensor systems offer significant advantages over legacy wireless sensor systems. Via two wholly owned divisions, IntelliSAW and Translogik, Transense is targeting the high growth global electrical Smart Grid applications market and the transport industry respectively.
Transense's sensors are also being used in the wind turbine monitoring industry. The Company is part of a consortium of nine companies ("IntelWind") that has begun development on a major EU funded project to improve the efficiency of wind turbines.
Transense's shares are admitted to trading on AIM, a market operated by the London Stock Exchange (AIM: "TRT").
www.transense.co.uk