12th Mar 2015 08:22
LONDON (Alliance News) - Transportation sensor systems provider Transense Technologies PLC on Thursday said it has signed a deal that will see Rema Tip Top Holding UK Ltd use Transense's tyre inspection probe, and it expects UK revenue from the contract to total at least GBP1.1 million over the next three years.
The deal, secured through its Translogik tyre management division, will see Rema use the tyre inspection probe in its 'Tip Top Tread' passenger car tyre inspection system. Transense said it expects the roll out to start in the middle of 2015.
"We believe Rema's established sales network and market expertise is capable of driving probe sales into the car tyre market much faster than would otherwise be achievable, and supports our strategy of diversifying into the substantial passenger vehicle market," said Graham Storey, Chief Executive of Transense.
Shares in Transense were up 9.1% to 1.5 pence on Thursday morning, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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