Glencore - Further Contract Win

RNS Number : 0890H

Transense Technologies PLC

05 June 2017

 

5 June 2017

Transense Technologies plc

("Transense" or the "Company")

Glencore - Further Contract Win

Transense Technologies plc (AIM: TRT), the provider of sensor systems for the transportation and industrial markets, is pleased to announce that Translogik, its trading division providing tyre management solutions, has won contracts through its Australian distributor, Brownfield Engineering and Maintenance PTY LTD ("Brownfield") to supply iTrack II mining tyre monitoring systems for large haul trucks to Glencore Mining ("Glencore").

The Company has previously announced that it won a contract through Brownfield to supply 23 iTrack mining tyre monitoring systems for large haul trucks to the Ravensworth mine, owned by Glencore. Since then, Glencore have been evaluating the iTrack system and have now approved the new iTrack II system for use in its mines. Orders have been signed to upgrade the existing iTrack systems at Ravensworth and add iTrack II to a further 40 trucks at Ravensworth (63 iTrack II systems in total).

These systems are to be supplied on a rental and service basis to Glencore via Brownfield. This method allows mining companies to benefit from the productivity gains and overhead savings provided by using the system without any of the associated capital cost, while providing Translogik with a recurring revenue stream.

Darryl Crowder, CEO of Brownfield, said: "Ravensworth initially chose iTrack after a competitive trial which has been followed by extensive first hand experience. We are very pleased to have achieved this milestone and are excited about the potential for future growth with such a global company."

Graham Storey, CEO of Transense, said: "We are delighted to announce that Glencore are adding the recently released iTrack II system to their fleets and we look forward to our expanding relationship on an international basis with one of the largest mining companies in the world."

For further information please visit www.transense.co.uk or contact:

Transense Technologies plc Graham Storey, Chief Executive	Tel: [phone]
finnCap Ed Frisby, Giles Rolls (Corporate Finance) Tony Quirke, Alice Lane (Corporate Broking)	Tel: [phone]
IFC Advisory Tim Metcalfe, Graham Herring, Heather Armstrong	Tel: [phone]

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014

Notes to editors:

About iTrack II

The iTrack II Mining system provides fast, accurate reliable real-time data on the condition of the tyres, combined with live tracking of vehicle location and status. Our 24/7 Control Room monitors the  pressures and temperatures live and this information can for example be used to ensure tyres do not exceed critical heat thresholds, detect incorrect load distributions, predict suspension failures, eliminate manual tyre pressure checks and much more. All of these benefits increase health and safety as well as reducing maintenance and downtime, which maximizes the hours a truck is working (On-Road Truck Working Hours), which directly correlates to an increase in production.

Existing iTrack users have reported increases in tyre life up to 30% and fuel savings of up to 3%. Savings of this magnitude provide rapid return on investment with the iTrack system paying for itself in a matter of months and where the rental option is chosen the system will pay for itself from day one.

http://www.trans-logik.com/itrack-2/

About Glencore

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities. With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. They also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 155,000 people, including contractors. Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. They are an active participant in the Extractive Industries Transparency Initiative.

http://www.glencore.com/

About Brownfield Engineering and Maintenance PTY LTD

Brownfield provides maintenance and operational support to major mining companies, with four facilities strategically positioned in the Bowen Basin, Surat Basin, Hunter Valley & Perth - Australia's premier mining locations.

Brownfield was formed with a focus on supporting the working assets of the mining sector and has been integrated into three key services offerings:

• Products: mining and associated products

• Engineering: engineering services to the mining industry

• Maintenance: mining maintenance services

http://www.brownfield.com.au/home/

About Transense Technologies

Based in Oxfordshire, UK, Transense has developed patent-protected sensor systems and supporting technology for use in a variety of diverse high growth markets. Transense's Surface Acoustic Wave (SAW) wireless, battery-less, sensor systems offer significant advantages over legacy wireless sensor systems. Transense is targeting the global transport and mining industries, and the global torque, temperature and pressure sensing markets, via its two trading divisions,Translogik and SAWSense.

Transense's shares are admitted to trading on AIM, a market operated by the London Stock Exchange (AIM: "TRT").

www.transense.co.uk

 

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