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Transense Technologies shares advance on new Chinese deal

Last updated: 08:13 05 Mar 2013 GMT, First published: 09:13 05 Mar 2013 GMT

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Shares in Transense Technologies (LON:TRT) advanced over 25% in early deals as it sealed a new contract to provide sensor technologies to a steel plant in China.

The firm’s Intelli unit’s thermal sensors will be used in the monitoring system for the soon-to-be-completed Fuxin Special Steel Company’s plant in the Zhangzhou Longchi development zone.

This is the first fit out of an entire facility with IntelliSAW sensors, Transense said.

"The scale of this new installations is very encouraging both in terms of potential for further volume sales by IntelliSAW and the confidence shown by both FPG and Nan Ya Switchgear in selecting and widely deploying the IS485 technology,” said chief executive Graham Storey.

"We continue to be confident about developing prospects for exploiting Transense's sensor expertise through its trading divisions IntelliSAW and Translogik, in conjunction with our growing number of  partners and licensees."

On AIM Transense shares were up 1.62p or 22.5% trading at 8.88p each.

 

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