Transense Technologies secures new iTrack contract win with BHP in Chile

AIM-listed Transense Technologies said on Monday that Translogik, its trading division which provides tyre management solutions, has won a further contract through its Chilean partner Otraco, to supply mining tyre monitoring systems for large haul trucks at the BHP Billiton mine Cerro Colorado.

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The iTrack II monitoring systems will be supplied on a rental and service basis via Otraco. This method allows mining companies to benefit from the productivity gains and overhead savings provided by using the system without any of the associated capital cost while providing Translogik with a recurring revenue stream.

Chief executive officer Graham Storey said: "We are very pleased to have added another BHP mine to our growing list of iTrack users in Chile. We also operate iTrack II in BHP Spence Chile and recently added BHP South Walker Creek Australia and look forward to working more extensively with BHP in the future."

Transense focuses on patent-protected sensor systems and supporting technology.

At 1050 GMT, the shares were down 2.5% to 68.75p.