Transense Technologies PLC
20 May 2005
Transense Technologies plc
AGM Statement
At the Company's AGM held at 11.30 a.m. today all resolutions were duly passed.
In addition Ray Lohr, Director of the Company, gave a presentation to those
shareholders in attendance at the meeting. The key points of this presentation
were as follows:
1. The Company's Tyre Pressure Monitoring System ('TPMS') remains focused
on an in-service date of 2005 in the North American truck market. Road test
and in-house test programmes for TPMS for the truck market are continuing and
Transense has now completed its engineering support tasks for TPMS in this
market
2. The Company also continues to progress well with the development of TPMS
for passenger cars. Honeywell are providing sensors for both ongoing and new
programs. Since 1 January 2005, the Company has supplied or been asked to
supply a number of demonstrators, including to a potential licensee in the
Far East, an EU Tier 1 supplier and two US OEMs. Furthermore Transense is in
the process of negotiating a licence with a leading US Tier 1 supplier.
3. Transense continues to develop and market its Surface Accoustic Wave
('SAW') technology for electric power assisted steering systems. Since the
beginning of the year a leading EU Tier 1 supplier reported a highly
successful system evaluation of the Company's system and has requested a
product development program. In addition the Company has also been in
discussions with three Tier 1 suppliers for both rack mounted and column
mounted systems.
4. Transense is also pursuing a number of potentially significant
opportunities for its SAW technology in the measurement of torque for power
train control. It currently has active projects with two US OEMs to provide
direct torque measurement for engine control, one US OEM to provide torque
measurement systems for control of automatic transmissions and is in
discussions with one US OEM and one EU Tier 1 supplier both keen to acquire
direct torque measurement systems for improved 2 wheel drive / 4 wheel drive
selection.
5. The size of Transense's addressable market is considered to be large
with over 1 billion tyres and an estimated 60 million new vehicles per annum.
A full copy of the presentation given at today's AGM will be available on the
Company's web-site www.transense.co.uk
For further information please contact:
James Perry, Chief Executive Tel: 01869 238 380
Transense Technologies plc
This information is provided by RNS
The company news service from the London Stock Exchange
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