Transense Technologies (AIM:TRT) - £1.1m deal lifts the gloom
The provider of sensor systems who we commented on earlier this week has announced announced that Translogik, its tyre management solutions division, has signed an exclusive agreement to supply its tyre inspection probe to Rema Tip Top Holdings UK Limited for use in Rema's new passenger car tyre inspection system, 'Tip Top Tread'.
Tip Top Tread, based on Translogik’s proprietary tyre probe technology, will provide a quick, efficient and accurate wireless car tyre inspection system to the tyre sales and fitment industry. The rollout, initially to the UK market, is scheduled to begin towards the middle of 2015. Rema is a market leader specialising in Automotive, Material Processing and Surface Protection product sectors. Rema’s exclusivity applies only to use of the probes in conjunction with the Tip Top Tread system, which is focused on the passenger car market and is contingent upon achieving agreed, rising quarterly minimum levels of UK sales totalling at…