Latin America Port Authorities Order 500 t42 Units

RNS Number : 8876O

T42 IOT Tracking Solutions PLC

15 June 2022

 

15 June 2022

t42 IoT Tracking Solutions plc

("t42" or the "Company")

Latin America Port Authorities Order 500 t42 Tracking Solution Units

t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), which provides real-time tracking, security, and monitoring solutions for the global supply chain, logistics, container and freight market, is pleased to announce that it has received its first commercial order for t42's sensor fusion based tracking solutions and cloud platform services in Latin America, delivered under the framework agreement with a Latin American consortium announced on 17 December 2021.

In this initial order 500 units are being supplied and it is expected that further devices will be ordered for use at additional ports across Latin America , with potential  sales as indicated and more fully explainedin our earlier announcement in December 2021. Port authorities deploying t42's tracking solutions benefit from increased visibility and capability to track and monitor goods in transit.

The customer is a Latin American consortium of five leading local companies responsible for providing local port authorities with trade data for a major regional port in Latin America. t42's tracking solutions and services will help manage the growing trade through the port.

Avi Hartmann, CEO of t42, commented:

"We are delighted to receive our first commercial order in Latin America under the Latin American framework agreement signed in December 2021. It's pleasing to see the progress the Company has made in the last few months, especially the conversion of contracts into long-term commercial business. Each converted contract demonstrates to potential new customers what our business can offer.

"The underlying driver of demand for our tracking and monitoring solutions and services is customers' need for greater security and real-time data about the condition and movement of their containers. This is heightened by the current disruption to global supply chains. Our customers operating at ports choose us because of their need both for enhanced security and increased efficiency."

Contacts:

t42 IoT Tracking Solutions PLC Michael Rosenberg, Chairman Avi Hartmann, CEO	07785 727595 [phone]
Strand Hanson Limited (Nominated Adviser and Financial Adviser) James Harris/ James Dance/ Robert Collins	020 7409 3494
Peterhouse Capital Limited (Joint Broker) Lucy Williams/Charles Goodfellow/Eran Zucker	020 7469 0930
Yellow Jersey PR (Financial PR) Tom Randell/Henry Wilkinson/Annabelle Wills	020 3004 9512 [e-mail]

Notes to Editors

t42 IoT Tracking Solutions plc  (AIM: TRAC), formerly Starcom Systems plc, provides real-time tracking, analysis, monitoring, and security IoT solutions for the global container and freight market and covers 55 countries, over 100 distributors, and 50 logistics and support partners.

t42's multi-sensor IoT tracking devices use a wide range of detection capabilities with cloud-based analytics and alerts, with real-time data transmission, analysis, and actionable insights. Its devices are used by ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities, homeland security, and police for end-to-end global container tracking and digital transformation of shipments.

For more information on the Company, please visit:  www.t42.co.uk/ . 

 

END

 

 

MSCFIMPTMTABBMT