("Tracsis" or the "Group")
North American Remote Condition Monitoring Contract Win
Tracsis, a leading provider of software, hardware, data analytics/GIS and services for the rail, traffic data and wider transport industries, is pleased to announce it has been awarded new contracts for the supply of Remote Conditioning Monitoring ('RCM') Hardware and Software to a major North American transit agency.
This win represents a strategically important milestone for Tracsis, as North America is an important future growth market for our Rail Technology & Services division.
The first contract win is the result of the successful delivery during 2020 of a Proof of Concept which was followed by an RCM equipment rollout across an initial four sites monitoring c.40 Switch machines. This new contract win includes the enterprise-wide installation of our Centrix data acquisition software platform and the extension to a further 10 sites of RCM equipment which will monitor an additional c.140 Switch machines. Further phases of work across multiple additional sites could follow dependent upon the successful ongoing roll-out of this program of work.
The second contract win for the same client is to again supply switch monitoring via our hardware and Centrix platform for a further c.45 Switch machines through a strategic Signalling renewal and station upgrade project.
The combination of these two contracts will combine to give RCM for over 200 Switch machines for this client.
These new contract wins are expected to be delivered during the remainder of this financial year.
Chris Barnes, Chief Executive Officer, commented:
"MPEC Technology has a very strong market position in the UK rail industry as a leading supplier of RCM software and hardware. A key strategic objective of the Tracsis Group is to expand this business into North America and these new contract wins with a major transit agency are an important further step in building momentum towards this goal."
Tracsis plc | Tel: 0845 125 9162
Chris Barnes, CEO
Andy Kelly, CFO
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Christopher Raggett/Charlie Beeson, Corporate Finance
Andrew Burdis, Corporate Broking
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