Michelin to Incorporate TPMS into Next-generation Truck Tyres
Michelin is to announce plans to incorporate Transense TPMS technology into its next generation of truck tyres at a press conference later this week. The news broke after a report in the Independent suggested that UK company Transense’s battery-less design would be used. There were also suggestions from industry insiders that Michelin may go further and announce the use of the system in car tyres as well.
The board of Transense Technologies plc confirmed the news in an official statement saying it “believes that Michelin will announce the inclusion of the company’s battery-less tyre pressure monitoring sensors in Michelin’s next generation of truck tyres.” However, the board added that it has “no control over the timing or content of any announcements by third parties.” The company said it will make a further announcement on the subject as soon as it is appropriate.
Michelin has been licensed to use Transense technology in its aircraft tyres since 2001. Other well-known companies including Honeywell, Texas Instruments and Lear Corporation also hold licenses. However if all the details in the Independent report are true it would be the first time the products have been put into large volume production.
On Friday 27th October the company’s shares cost 69.25p, valuing the enterprise at around £40 million. At the time of going to press (Monday 29 October) shares were up 13.36 per cent to 78.5p each. Transense, which was founded 16 years ago will likely be transformed if the company secures the Michelin deal as described in the Independent report.