Distribution Agreement
Transense Technologies plc (the 'Company' or 'Transense')
12 February 2010
Distribution Agreement
Transense, the AIM listed technology transfer company, is pleased to announce
that its subsidiary, Translogik RFID Limited ('Translogik'), has signed an
exclusive global distribution agreement (excluding China) with Qingdao Mesnac
Co. Ltd. ('Mesnac') for its range of RFID (Radio Frequency Identification)
products, including its RFID tag. Â The tag has been developed to be embedded
within the tyre during the manufacturing process, where it will last the
lifetime of the tyre, or alternatively in a patch which attaches to the tyre
wall, as an aftermarket solution.
Graham Storey, CEO of Transense said, "The potential tyre RFID market is
currently estimated to be in the region of 1.2 billion units per annum. We have
the first commercially available, independent (non-OEM) RFID tyre tag available
to OEM's, fleets and service providers. The tag has undergone a rigorous and
extensive testing process during the past 18 months, in both truck and car
tyres, and has proven to be exceptionally robust, meeting all quality
expectations. This agreement adds another complementary technology to our
existing product portfolio, allowing us to meet the developing demands of our
existing customers and the wider automotive asset management market. There are
several compelling reasons for a tyre manufacturer or fleet owner to fit an RFID
tag into their tyres; recent price increases mean that tyres now represent their
second highest maintenance cost behind fuel, as a consequence managing tyre
assets is enormously important in maintaining profitability. RFID allows for
accurate, real-time management of tyre assets and when combined with the
Translogik range of fleet inspection tools, provides our customers with a total
end-to-end tyre management solution to monitor tyre pressure, tyre temperature,
tread depth, and now with the use of RFID, full tyre tracking to prevent
counterfeiting and tyre theft, a significant problem for truck and bus fleets,
and car rental companies worldwide".
Mr Yang, General manager of Qingdao Mesnac said, "The Qingdao Mesnac Company is
very pleased to have signed this global distribution agreement with Translogik;
my staff have worked hard to ensure the RFID tyre tag can meet all the demands
a product like this will endure through its life. We have tested many thousands
of tags in hundreds of tyres through various conditions to ensure the product we
supply to Translogik is of superior quality and fully compliant with the new
AIAG B11 industry standard.
Our relationship with the Transense Group has developed rapidly over the past
year. This agreement follows on closely from the Memorandum of Understanding
signed last September, and we envisage a long and mutually beneficial
partnership developing, with further product design and development under
discussion.
Our two companies share a common vision to develop and produce state-of-the-art
tyre technology products and become major players in these rapidly expanding,
high value markets".
Contacts:
Transense Technologies PLC
Graham Storey                            01869 238380
Brewin Dolphin Investment Banking
Neil Baldwin                                 0845 213 4730
Sean Wyndham-Quin
About Mesnac
Qingdao MESNAC Co. Ltd is devoted to the research and development of industrial
information technology and the production of digital equipment. It provides
complete solutions for rubber tyre enterprises with a combination of hardware,
software, management and control. Its core technology has been successfully
applied to various fields, including chemistry, note printing ink, food, heating
and power.
Listed on the Shenzhen Stock Exchange since 2006, MESNAC has received numerous
awards, including National Key High Tech Enterprise, Key Software Enterprise in
National Planning and National Trial Innovation Enterprise.
In 2009, MESNAC and Qingdao University of Science and Technology were jointly
nominated to develop the National Tyre Process and Control Engineering
Technology Research Center, in order to build the optimal technical research
platform.
About Translogik RFID Limited
Translogik RFID Limited is a provider of innovative RFID (Radio Frequency
Identification) based technology solutions for Data Capture and Asset Management
to the Commercial vehicle and Industrial markets.
Translogik RFID Limited is a wholly owned subsidiary of Transense Technologies
PLC. Transense is listed on the Alternative Investment Market of the London
Stock Exchange (TRT).
www.trans-logik.com <
http://www.trans-logik.com/>
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).
www.transense.co.uk
ENDS.
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