16th Dec 2015 08:07
LONDON (Alliance News) - Transense Technologies PLC on Wednesday said its Translogik division has won an agreement with German tyre company Continental AG to supply its ContiTrade unit with the TL-G1 tyre inspection probe.
Transense said Continental has ordered 85 kits so far, with further significant orders expected. No financial details were disclosed.
The TL-G1 system, compatible with Apple's iOS operating system, provides customers with real-time information of tyre pressure, tread depth and overall tyre condition.
"The Translogik TL-G1 Probe, which is now used in 41 countries, 17 of these being in the EU, is well on the way to becoming the industry standard wireless tread depth and pressure measuring tool. Having the latest version of the probe used by ContiTrade's large retail network provides Translogik with another significant sales channel," said Graham Storey, Transense's chief executive.
Transense shares were up 20% early Wednesday to 1.38 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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