Last checked at 28 Oct 2014 07:15
28th October 2014
Transense Technologies PLC
("Transense" or the "Company")
Launch of 'Opti-Tread®' with US partner Squarerigger through Snap-on Equipment
Entry into Passenger Car Tyre Market
Translogik, a trading division of Transense, is pleased to announce that its US partner, Squarerigger, has launched its new Opti-Tread® Premium portable car tyre audit system. Snap-On Equipment, a subsidiary of Snap-on Incorporated (NYSE: SNA), has become Squarerigger's first major distributor. Snap-on is marketing Opti-Tread® through its John Bean brand.
The Opti-Tread® system is designed for vehicle service centres, providing rapid electronic data on tyre condition that enables them to increase sales and ensure that customers' tyres are optimally maintained for performance and safety. The Translogik tyre probe forms an integral part of the process that generates an automated graphical colour report on overall tyre condition. The service centre provides this report to the customer, highlighting potential tyre issues such as excessive wear or incorrect pressures, that if not dealt with, could lead to reduced tyre life or tyre failure.
This is a significant breakthrough for Translogik, both in terms of the expected sales volumes, and also because this is the first application of the probe for the passenger car tyre market. Previously the probe was used only for heavy commercial vehicle (HCV) tyre inspections, but this move into use for passenger cars and light commercial vehicles (LCV) greatly increases the addressable market. In 2013 global sales of passenger cars & LCV's were 82.4m, compared to 4.8m for HCV's.*
Ed Cooper, CEO of Squarerigger, commented: "We are excited to have been selected as a Snap-on Equipment Inc. vendor after months of in-house and site testing with Opti-Tread®. Snap-on Equipment Inc. is well positioned to provide this solution to customers globally through the John Bean brand and we look forward to a great relationship with them."
David Cox, Vice President of Sales, Snap-on Equipment Inc. said "Opti-Tread® provides a productivity solution that complements our full line of workshop equipment. We look forward to serving our customers with this innovative tool."
Laren Yeomans, Translogik CEO, stated: "This is a significant opportunity for Translogik's tyre inspection probe products, as the move into the passenger car tyre market offers the potential for additional sales in the coming years, over and above that of the commercial vehicle market. We look forward to building on our successful contribution to tyre management for commercial fleets with the growing adoption of the Opti-Tread® system and its application to passenger cars and light commercial vehicles."
* Company estimates derived from data at http://www.oica.net/category/production-statistics/2013-statistics/
For further information, please contact:
Transense Technologies plc | Tel: +44 (0)1869 238 380 |
Graham Storey, Chief Executive David Ford, Company Secretary
| |
N+1 Singer - Nominated Adviser and Broker Aubrey Powell/ Alex Wright / Thomas Smale
| Tel: +44 (0)20 7496 3000 |
Newgate Threadneedle | Tel: +44 (0)20 7653 9850 |
Tim Thompson/ Robyn McConnachie |
About Squarerigger
Squarerigger has been providing solutions for the transportation and automobile industry since 1986. Its SQ.7™ fleet maintenance and Revolution® tire tracking and management systems are used around the world by customers of all sizes.
About Snap-on Equipment
Snap‐on Equipment Inc., a subsidiary of Snap-on Incorporated, is the world's leading source of automotive undercar service equipment, marketed under brand names such as John Bean, Hofmann, Blackhawk, Challenger, Pro-Cut and Cartec. Snap‐on is a leading global innovator, manufacturer and marketer of tools, diagnostic and equipment solutions for professional users. Products are sold through its franchised dealer van, company‐direct sales and distributor channels, as well as the Internet. Founded in 1920, Snap‐on Incorporated is a $3.1 billion, S&P 500 company headquartered in Kenosha, Wisconsin, and employs approximately 11,500 people worldwide.
About Translogik
Translogik, a trading division of Transense Technologies plc, is a provider of innovative tyre management solutions for the OTR (Off-the-Road) and commercial vehicle markets
The product portfolio includes wireless tyre temperature & pressure monitoring systems, tread depth, pressure and temperature data collection tools for truck, bus and OTR vehicle tyre inspections, and RFID (Radio Frequency Identification) tags, patches and UHF readers for tyres and general asset tracking.
The Products have been designed to operate in the most hostile and demanding environments, such as mining, earth-moving and construction.
www.trans-logik.com