Last checked at 8 Jun 2009 07:00
Transense Technologies plc (the 'Company')
8th June 2009
Re Translogik Limited
Transense Technologies plc announces the formation of a new wholly owned subsidiary, Translogik Limited, which will broaden the Company's product portfolio and consequently generate additional revenue opportunities.
Translogik Limited will supply direct to Original Equipment Manufacturers (OEM's), Value Added Resellers (VAR's), System Integrators (SI's), and in certain instances, directly to the end user. The product line will include the Pneu Logic Ltd range of commercial tyre inspection equipment, which includes the OTR Tread Depth Probe, jointly developed with Transense, incorporating a Radio Frequency Identification (RFID) reader and the Transense SAW (Surface Acoustic Wave) sensor reader electronics. The company will also offer a tyre patch, which incorporates a Temperature and Pressure sensor, together with an RFID tag for "Cradle to Grave" tyre inventory purposes. Stand-alone RFID tags will be available for other asset management purposes.
Graham Storey, Commercial Director of Transense, commented "Creating this new subsidiary gives Transense the ability to move directly into the supply chain, providing us with a further opportunity to unlock the commercial value of our patented sensor technology. The new range of Translogik RFID based products have unique characteristics that we believe give them a competitive advantage and allow us to target a significant growth area within the worldwide automotive and industrial sensor markets."
The new subsidiary management team will be strengthened by the addition of Laren Yeomans. Formerly Managing Director of Pneu-Logic, Laren joins as Sales Director of Translogik Ltd. Laren has considerable industry experience and commercial contacts with OEM's, VAR's, SI's and end users. In addition to Laren joining the team, Ken Field, formerly the Sales Director of Pneu-Logic Ltd, has joined Translogik Limited as a sales consultant.
Laren Yeomans said "This new corporate structure will allow Pneu Logic Ltd to concentrate on their core capabilities, which is the design and manufacture of electronic equipment while at the same time giving myself and Ken the platform to aggressively pursue sales of a comprehensive range of products and solutions targeted at the OTR and Commercial tyre markets in addition to the wider industrial applications of RFID".
About Pneu -Logic Ltd
Pneu-Logic Ld manufactures electronic data capture equipment for the commercial tyre industry, specialising in TPMS and RFID solutions.
About Transense
Transense Technologies is a technology transfer company based in Upper Heyford, Oxfordshire. Transense develops Surface Acoustic Wave (SAW), wireless, batteryless, sensor systems in partnership with its licensees and partners, Honeywell, Melexis, Michelin, Sengenuity, Stack, Tai-Saw, Texas Instruments, SCHOTT, McLaren Electronic Systems and Carbon Motors.
Current applications include Tyre Pressure Monitoring Systems (TPMS) and torque systems for Electrical Power Assisted Steering (EPAS) and driveline management.
Transense is listed on the Alternative Investment Market of the London Stock Exchange (TRT).
Contacts:
Transense Technologies PLC
Graham Storey 01869 238 380
Laren Yeomans 01869 238 380
Brewin Dolphin Investment Banking
Neil Baldwin 0845 213 4726
ENDS