Transense Technologies (TRT)

Sector:

Automobiles and related providers

Index:

FTSE AIM All-Share

 55.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 88.50
  • 52 Week Low: 42.50
  • Currency: UK Pounds
  • Shares Issued: 16.31m
  • Volume: 1,723
  • Market Cap: £9.05m
  • RiskGrade: 188

Transense enters joint collaboration agreement with Bridgestone

By Josh White

Date: Tuesday 13 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Industrial, mining and transportation sensor provider Transense Technologies announced a joint collaboration agreement with Japan's Bridgestone Corporation on Tuesday.
The AIM-traded firm had announced on a8 February that it had received an order from a new customer for 50 'iTrack II' units, for installation in mines in North America, and it confirmed on Monday that the customer referred to in that announcement was a subsidiary of Bridgestone.

It said it had now entered into a joint collaboration agreement with Bridgestone in respect of the iTrack II system and its future generations, for an initial 18-month period with the ability to extend.

Based on the joint collaboration agreement, Bridgestone agreed to offer the iTrack system exclusively as a mining tyre monitoring system for tyres 57 inches and above, for its off-the-road customers.

Additionally, Bridgestone would be providing financial support by way of an interest free loan of $0.75m, to enable Transense's Translogik division to support the accelerated rate of growth that was anticipated from the relationship.

Transense said it also agreed that it would not contract with any other tyre manufacturer for the provision of the iTrack system for tyres 57 inches and above for the term of the agreement, nor would it have discussions with any other party in relation to any transaction of a merger, acquisition or joint venture nature in respect of its iTrack business for six months.

"We are delighted to have the opportunity to be working with Bridgestone," said Transense chief executive officer Graham Storey.

"They are a leading supplier of tyres to the mining off-the-road marketplace, and their decision to offer the iTrack system is a testament to the capabilities of Translogik and the iTrack system.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

TRT Market Data

Currency UK Pounds
Share Price 55.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 88.50
52 Week Low 42.50
Volume 1,723
Shares Issued 16.31m
Market Cap £9.05m
RiskGrade 188

TRT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.15% below the market average34.15% below the market average34.15% below the market average34.15% below the market average34.15% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
19.25% above the market average19.25% above the market average19.25% above the market average19.25% above the market average19.25% above the market average
Sector averageSector averageSector averageSector averageSector average
Income Not Available
Growth
24.11% below the market average24.11% below the market average24.11% below the market average24.11% below the market average24.11% below the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

TRT Dividends

No dividends found

Trades for 26-May-2020

Time Volume / Share Price
08:11 1,723 @ 56.50p

TRT Key Personnel

CEO Graham Storey
Finance Director Melvyn Segal
Chair David Michael Ford

Top of Page