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Transense Technologies plc

Transense Technologies plc Another iTrack Contract Win

Transense Technologies plc (LON: TRT), the provider of sensor systems for the transportation, automotive, avionic and industrial markets, has today announced that Translogik, its trading division providing tyre management solutions, has won a further contract through its Ghanaian partner WATS (West African Tyre Services) to supply 41 iTrack II mining tyre monitoring systems for haul trucks at BISSA, a Nordgold mine in Burkina Faso.

These systems are to be supplied on a rental and service basis via WATS, which is a wholly owned subsidiary of Rana Motors & Metal Works Engineering Company Ltd. 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.

Vibi Chandra, Director, Sales & Services Director, OTR Tyres, WATS, said:

“The considerable advantages that Nordgold have seen at their sister mine SOMITA, where we installed iTrack in May 2018, have persuaded Nordgold to adopt the system at BISSA. As we have previously stated, West Africa is a region with dozens of mines and hundreds of haul trucks and it is our intention to introduce our new enhanced service, including iTrack, to our existing portfolio of mines as well as other mines across the region. We know these mines are very interested in the significant advantages we are now able to offer and we fully expect further advances and new contracts in the future.”

Graham Storey, CEO of Transense Technologies plc, said:

“We are very pleased to have added another Nordgold owned mine in West Africa to our growing list of iTrack users. WATS are a well-established and highly regarded tyre service provider in West Africa and with their depth of contacts we are hopeful of an accelerated rate of adoption moving forward.”