LONDON, April 1, 2015 /PRNewswire/ --
Wheelsure Holdings plc, the ISDX quoted technology company, is pleased to announce that the Company's principal subsidiary, Tracksure Limited ("Tracksure"), has now received formal technical approval from Deutsche Bahn AG, Germany (DB) for the use of Tracksure in all brake retarder applications.
As a direct result of this approval, Tracksure has received its first major order from Siemens AG, Germany (Siemens) worth EUR 52,500 in connection with the upgrade of rail infrastructure at the marshalling yard in Halle, Germany. The Board of Tracksure believe that further orders will now follow. A further order valued at EUR 2,500 has also been received from Siemens as part of a second product development initiative in Hamburg, Germany.
In addition, a wider cooperation agreement between Siemens and Tracksure is currently the subject of further dialogue for future business in Germany and beyond.
Tracksure continues to seek opportunities to extend business in Europe following the DB approval. In order to facilitate this objective, the Company is currently working to gain formal approved supplier status.
Gerry Mulder, Tracksure's Chairman, said: "Following our Annual Report which outlined the possibility of approvals and orders, I am delighted that these have now come to fruition. Technical approval from one of the world's leading rail companies is the result of a huge amount of testing, trialling and product development and will, I am confident, lead to further business."
The directors of the Company are responsible for the contents of this announcement.
For further information please contact:
Wheelsure Holdings plc
Quoted on ISDX (WHLP)
Peterhouse Corporate Finance Limited
Duncan Vasey and Mark Anwyl
SOURCE Wheelsure Holdings plc