Transense Regulatory News (TRT)

27 Nov 2006 07:01

Transense Technologies PLC27 November 2006 Transense Technologies plc Re Agreement Transense Technologies plc is pleased to announce that it has signed a furtherlicence agreement with TAI-SAW TECHNOLOGY CO., LTD, Taiwan, to manufacturesurface acoustic wave ("SAW") die for sensors to measure torque and temperature(TQS). TAI-SAW is already licensed to manufacture devices for measuring thepressure and temperature on tyre monitoring systems ("TPMS"). Under terms ofthis agreement Transense will receive an immediate up-front payment, followed bya larger amount when sales reach an agreed level. Transense will also receive aroyalty on all sales of TQS. James Perry, Chief Executive of Transense, said last night: "TAI-SAW andTransense have worked closely together since we signed our first licenceagreement in 2002 for the manufacture of SAW devices for tyre pressuremonitoring. The success of this partnership, and the recent news that Michelinand Honeywell are commercialising our batteryless TPMS technology in UScommercial vehicle tyres, has validated the opportunity for thecommercialisation of our engine and transmission torque management, drive lineand electric power assisted steering system technology. Honeywell, which signed a world-wide licence in 2004 for our torque technology,exclusive for powertrain applications, has been working closely with ourengineers together with a number of North American and European global carmanufacturers to incorporate TQS in their vehicles. Although there is still workto be done before TQS appears in volume production vehicles, the results so farare encouraging. The same integrated circuit, which lies at the heart ofTransense's interrogation electronics used in TPMS, is also used for torquemeasurement. TAI-SAW is based in Taiwan and also has a manufacturing plant in China, nearShanghai. It manufactures to the highest standards and is the fastest growingmanufacturer of SAW devices in the world. Allen C.H. Wu, Director and General Manager of TAI-SAW said "TAI-SAW is verypleased and excited to sign this new agreement with Transense and to reachanother milestone of the collaboration. As a result of working closely togetherover several years, Transense and TAI-SAW have built up a very strong technicalteam with wide experience encompassing strong SAW design engineering and SAWmanufacturing capability for a wide range of sensor applications. I believethat by maintaining the present momentum and collaboration using the expertiseof both our companies, we shall be able to fully support the requirements ofTransense's licensees, give them excellent product and service, and ensure thatthey are in a position to fully exploit the booming market for automotivesensors." This information is provided by RNS The company news service from the London Stock Exchange