Business
Memorandum of Understanding
Memorandum of Understanding.
About this update from Transense Technologies Plc
[{"type":"text","content":"\n \n\n\n\nTransense Technologies plc (the 'Company' or 'Transense')\n\n2 September 2009\n\nMemorandum of Understanding\n\n\nTransense is pleased to announce that it has signed a Memorandum of\nUnderstanding (MOU) with Qingdao Mesnac Co. Ltd. ('Mesnac')\n\nTransense and Mesnac have entered into an agreement to combine their\nindividual areas of expertise, for the purpose of developing\nTransense's patented tyre pressure monitoring sensor technology for\nthe attachment or embedding of these sensors into tyres.\n\nUnder the terms of the agreement Mesnac have agreed to an initial\nupfront payment and will pay additional sums for technology\ntransfer/engineering support on an as required basis.\n\nGraham Storey, Commercial Director of Transense commented, \"We are\ndelighted to have signed this agreement with Mesnac. We recently\nvisited their facilities in China and were extremely impressed with\ntheir production environment and technical expertise. It is apparent\nthat Mesnac have ambitious plans for developing a Tyre Pressure\nMonitoring System (TPMS) applicable to Off the Road (OTR) vehicles,\nTruck and Passenger cars, and we look forward to bringing our\npatented technology to market in partnership with them.\"\n\n\nContacts:\n\n\nTransense Technologies PLC\nGraham Storey 01869 238380\nNorman Smith 01869 238380\n\nBrewin Dolphin Investment Banking\nNeil Baldwin 0845 213 4730\nSean Wyndham-Quin\n\n\nAbout Mesnac\n\nQingdao Mesnac Co. Ltd. is a tyre technology company based in\nQuingdao, China. Mesnac have developed a range of tyre and\nindustrial production processes, control and testing systems and\nsupporting software.\n\nAbout Transense\nTransense Technologies is a technology transfer company based\nin Upper Heyford, Oxfordshire. Transense develops Surface Acoustic\nWave (SAW), wireless, batteryless, sensor systems in partnership with\nits licensees and partners, Honeywell, Melexis, Michelin, Sengenuity,\nStack, Tai-Saw, Texas Instruments, SCHOTT, McLaren Electronic Systems\nand Carbon Motors.\n\nCurrent applications include Tyre Pressure Monitoring Systems (TPMS)\nand torque systems for Electrical Power Assisted Steering (EPAS) and\ndriveline management.\n\nTransense is listed on the Alternative Investment Market of the\nLondon Stock Exchange (TRT).\n\n\nENDS\n\n---END OF MESSAGE---\n\n\n\n\nThis announcement was originally ...