Transense Technologies plc (the 'Company' or 'Transense')
2 September 2009
Memorandum of Understanding
Transense is pleased to announce that it has signed a Memorandum of
Understanding (MOU) with Qingdao Mesnac Co. Ltd. ('Mesnac')
Transense and Mesnac have entered into an agreement to combine their
individual areas of expertise, for the purpose of developing
Transense's patented tyre pressure monitoring sensor technology for
the attachment or embedding of these sensors into tyres.
Under the terms of the agreement Mesnac have agreed to an initial
upfront payment and will pay additional sums for technology
transfer/engineering support on an as required basis.
Graham Storey, Commercial Director of Transense commented, "We are
delighted to have signed this agreement with Mesnac. We recently
visited their facilities in China and were extremely impressed with
their production environment and technical expertise. It is apparent
that Mesnac have ambitious plans for developing a Tyre Pressure
Monitoring System (TPMS) applicable to Off the Road (OTR) vehicles,
Truck and Passenger cars, and we look forward to bringing our
patented technology to market in partnership with them."
Contacts:
Transense Technologies PLC
Graham Storey 01869 238380
Norman Smith 01869 238380
Brewin Dolphin Investment Banking
Neil Baldwin 0845 213 4730
Sean Wyndham-Quin
About Mesnac
Qingdao Mesnac Co. Ltd. is a tyre technology company based in
Quingdao, China. Mesnac have developed a range of tyre and
industrial production processes, control and testing systems and
supporting software.
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).
ENDS
---END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.