Contract Win

RNS Number : 0952R

Tracsis PLC

04 March 2021

 

4 March 2021 

Tracsis plc

("Tracsis" or "the Group")

North American Remote Condition Monitoring Contract Win

Tracsis, a leading provider of software, hardware, data analytics/GIS and services for the rail, traffic data and wider transport industries, is pleased to announce it has been awarded new contracts for the supply of Remote Conditioning Monitoring ('RCM') Hardware and Software to a major North American transit agency.

This win represents a strategically important milestone for Tracsis, as North America is an important future growth market for our Rail Technology & Services division.

The first contract win is the result of the successful delivery during 2020 of a Proof of Concept which was followed by an RCM equipment rollout across an initial four sites monitoring c.40 Switch machines. This new contract win includes the enterprise-wide installation of our Centrix data acquisition software platform and the extension to a further 10 sites of RCM equipment which will monitor an additional c.140 Switch machines.  Further phases of work across multiple additional sites could follow dependent upon the successful ongoing roll-out of this program of work.

The second contract win for the same client is to again supply switch monitoring via our hardware and Centrix platform for a further c.45 Switch machines through a strategic Signalling renewal and station upgrade project.

The combination of these two contracts will combine to give RCM for over 200 Switch machines for this client.

These new contract wins are expected to be delivered during the remainder of this financial year.

Chris Barnes, Chief Executive Officer, commented:

"MPEC Technology has a very strong market position in the UK rail industry as a leading supplier of RCM software and hardware. A key strategic objective of the Tracsis Group is to expand this business into North America and these new contract wins with a major transit agency are an important further step in building momentum towards this goal."

Enquiries:
Tracsis plc	Tel: [phone]
Chris Barnes, CEO
Andy Kelly, CFO
finnCap Ltd	Tel: [phone]
Christopher Raggett/Charlie Beeson, Corporate Finance
Andrew Burdis, Corporate Broking
Alma PR	Tel: [phone]
David Ison/Helena Bogle/Joe Pederzolli	[e-mail]

 

Notes to editors: 

· Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytic/GIS services for the rail, traffic data and wider transport industries.

· Tracsis' products and services are widely used to increase efficiency, reduce cost and risk, improve operational and asset performance, improve safety management and decision making capabilities and improve the overall customer experience for clients and customers. 

· The Group is split into two principle operating areas built around detailed industry knowledge and expertise:

-   Rail Technology & Services:  Software and technology/product led business. Develops remote condition monitoring hardware, data acquisition software and safety and risk management software for rail infrastructure providers. Software that solves complex resource, asset optimisation and control problems for Train Operators and Smart Ticketing, Delay Repay and other retail software to improve the customer experience for rail users.

-   Data, Analytics, Consultancy & Events: A largely services led business that focuses on data capture, data analytics, GIS, data insights, consultancy and event traffic management within a range of transport and pedestrian rich environments.  The business provides technology/bespoke products and data that underpins large scale intelligent transport system and smart city planning and decision making.

· Tracsis has a blue-chip client base which includes all major UK transport owning Groups.  The business also works extensively with Network Rail, Train Operating Groups and Companies, the Department for Transport, TfL, multiple local authorities, major outdoor music and sporting event organisers, and a wide variety of large engineering and infrastructure companies.

· The business drives growth both organically and through acquisition and has made fifteen acquisitions since 2008.

· For more information on Tracsis please visit http://www.tracsis.com

 

END

 

 

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