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Seeing Machines Ltd - US Fleet Contract

RNS Number : 9557X
Seeing Machines Limited
28 February 2017
 

 

Seeing Machines Limited

("Seeing Machines" or "the Company")

 

Seeing Machines signs Multi Year Contract with US Fresh Goods Distributor, Shamrock Foods Company

 

28 February 2017

 

Seeing Machines (AIM: SEE),  the AIM listed technology company with a focus on operator monitoring and intervention
sensing technologies and services, announces a multi-year services contract with Shamrock Foods Company ("Shamrock"), a leading US Distributor of fresh goods with a large presence in the US South West.

 

Seeing Machines commenced an assessment program with the Shamrock Food Company 12 months ago and has been working closely with Shamrock since then in an effort to ensure the Seeing Machines Guardian System and SafeGuard Program is well implemented to maintain the outstanding driver safety benefits that were achieved during the assessment period.

 

The multi-year agreement will see 750 of Shamrocks' heavy vehicles fitted with the Guardian System and the Shamrock drivers further protected by the Seeing Machines SafeGuard Center located in Tucson, Arizona.

 

Previously, Seeing Machines' revenue was predominantly derived from CAPEX sales to the mining sector. Since licensing the mining IP to Caterpillar in 2016, the Guardian division is delivering longer-term contracted, recurring monthly revenue streams. This means commercial fleet customers are billed on a per-truck, monthly basis. The number of carriers currently assessing the technology and converting into contracts is confirmation of the model which provides Seeing Machines with greater revenue predictability, customer retention and ongoing product uptake.

 

Mr. Paul Angelatos, President, Guardian Systems and Seeing Machines COO commented: "Anytime we win a major contract there is naturally a good deal of excitement. In this case, the fact that we are going to work with Shamrock Foods Company, a major player in the distribution of  fresh   goods  in   the     US  South       West, and   a company with an exceptional safety culture, only
 adds to the excitement. Shamrock is a family owned business that treats their drivers and staff as part of their family. We are
pleased to be able to contribute to ensuring that their drivers get home to their families at the end of each shift." 

 

Mr. Chris Cushing, Operations Technology Manager, Shamrock Foods Company said: "Shamrock Foods Company has always embraced change and the introduction of technology. In the case of in vehicle driver monitoring technology, we considered a number of different systems, but in the end, we felt the Guardian System provided the best solution for us. The differentiator with the other systems is the fact that Guardian is able to help us detect and prevent fatigue and distraction before it occurs, ensuring that we get our drivers home safely every shift. Having the SafeGuard Centre located close by in Tucson Arizona is another source of comfort for us."

 

 

     Enquiries:

 

Seeing Machines Limited

www.seeingmachines.com  / +61 2 6103 4700

Ken Kroeger, Managing Director and CEO

[email protected]

Media inquiries

[email protected]

finnCap Ltd, Broker for Seeing Machines

 

Ed Frisby / Emily Watts, Corporate Finance

+44 20 7220 0500

Tim Redfern, Corporate Broking

 

 

Shamrock Foods Company

 

Steve Domonkos, Vice President, Operations                +1 602 477-2500

[email protected]

 

 

About Seeing Machines

 

Seeing Machines, (AIM: SEE) is focused on operator monitoring and intervention sensing technologies and services. With more than 15 years of experience, Seeing Machines uses advanced detection and prevention safety assistance technologies to track eye and facial movement in order to monitor fatigue, drowsiness and distraction events, such as microsleeps, texting and cell phone use as they occur, while providing for a real-time intervention strategy, which improves operator, driver and environmental safety, preserves assets, and reduces risk. Seeing Machines' technology is used worldwide across the automotive, mining, transport and aviation industries; as well as many of the leading academic research groups and transportation authorities. Seeing Machines is headquartered in Australia and has offices in Tucson, Arizona and Mountain View, California. The Company counts Caterpillar, Electro Motive Diesel, Progress Rail, Boeing, Takata, SEMCo, and Eye Tracking Inc among its partners.

 

 

About Shamrock Foods

 

Shamrock Foods distributes fresh and frozen foods, specialty items and gourmet foods to food service customers. It also distributes dairy products to supermarkets and convenience stores in the southwestern US states. Shamrock manufactures its own dairy products under the Shamrock Farms label. In 1922, W.T. McClelland started Shamrock Farms with 20 cows and a Model T truck. The company is now the largest family owned dairy in the US Southwest, with over 10,000 head of cattle and now has a full line of organic and conventional dairy products, including its "on-the-go" extended shelf life milk. Shamrock 2016 revenue was reported in Forbes as US$2.8Bn and listed as the 166th largest privately owned company in the US.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Price: 4.225

Market: AIM
Market Cap: £142.18 m
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