Business
Distribution Agreement
Distribution Agreement.
About this update from Transense Technologies Plc
[{"type":"text","content":"\n \n\n\n\n\nTransense Technologies plc (the 'Company' or 'Transense')\n\n12 February 2010\n\nDistribution Agreement\n\nTransense, the AIM listed technology transfer company, is pleased to announce\nthat its subsidiary, Translogik RFID Limited ('Translogik'), has signed an\nexclusive global distribution agreement (excluding China) with Qingdao Mesnac\nCo. Ltd. ('Mesnac') for its range of RFID (Radio Frequency Identification)\nproducts, including its RFID tag. Â The tag has been developed to be embedded\nwithin the tyre during the manufacturing process, where it will last the\nlifetime of the tyre, or alternatively in a patch which attaches to the tyre\nwall, as an aftermarket solution.\n\nGraham Storey, CEO of Transense said, \"The potential tyre RFID market is\ncurrently estimated to be in the region of 1.2 billion units per annum. We have\nthe first commercially available, independent (non-OEM) RFID tyre tag available\nto OEM's, fleets and service providers. The tag has undergone a rigorous and\nextensive testing process during the past 18 months, in both truck and car\ntyres, and has proven to be exceptionally robust, meeting all quality\nexpectations. This agreement adds another complementary technology to our\nexisting product portfolio, allowing us to meet the developing demands of our\nexisting customers and the wider automotive asset management market. There are\nseveral compelling reasons for a tyre manufacturer or fleet owner to fit an RFID\ntag into their tyres; recent price increases mean that tyres now represent their\nsecond highest maintenance cost behind fuel, as a consequence managing tyre\nassets is enormously important in maintaining profitability. RFID allows for\naccurate, real-time management of tyre assets and when combined with the\nTranslogik range of fleet inspection tools, provides our customers with a total\nend-to-end tyre management solution to monitor tyre pressure, tyre temperature,\ntread depth, and now with the use of RFID, full tyre tracking to prevent\ncounterfeiting and tyre theft, a significant problem for truck and bus fleets,\nand car rental companies worldwide\".\n\nMr Yang, General manager of Qingdao Mesnac said, \"The Qingdao Mesnac Company is\nvery pleased to have signed this global distribution agreement with Translogik;\nmy staff have worked hard to ensure the RFID tyre tag can ...