Transense is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Qingdao Mesnac Co. Ltd. ('Mesnac')

Transense and Mesnac have entered into an agreement to combine their individual areas of expertise, for the purpose of developing Transense's patented tyre pressure monitoring sensor technology for the attachment or embedding of these sensors into tyres.

Under the terms of the agreement Mesnac have agreed to an initial upfront payment and will pay additional sums for technology transfer/engineering support on an as required basis.

Graham Storey, Commercial Director of Transense commented, "We are delighted to have signed this agreement with Mesnac. We recently visited their facilities in China and were extremely impressed with their production environment and technical expertise. It is apparent that Mesnac have ambitious plans for developing a Tyre Pressure Monitoring System (TPMS) applicable to Off the Road (OTR) vehicles, Truck and Passenger cars, and we look forward to bringing our patented technology to market in partnership with them."

About Mesnac

Qingdao Mesnac Co. Ltd. is a tyre technology company based in Quingdao, China. Mesnac have developed a range of tyre and industrial production processes, control and testing systems and supporting software.

Mesnac Website

Contacts:


Transense Technologies PLC
Graham Storey                     01869 238380
Norman Smith                      01869 238380

Brewin Dolphin Investment Banking
Neil Baldwin                      0845 213 4730
Sean Wyndham-Quin