Trakm8 Holdings PLC Office & Factory Expansion in Coleshill, UK (5487W)
August 02 2018 - 2:00AM
UK Regulatory
TIDMTRAK
RNS Number : 5487W
Trakm8 Holdings PLC
02 August 2018
2 August 2018
Trakm8 Holdings plc
('Trakm8' or the 'Group')
Office & Factory Expansion in Coleshill, UK
- Trakm8 to double size of Group HQ and manufacturing facility -
Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data
supplier to global markets, is pleased to announce that it has
concluded an agreement with the landlord of its' facilities in
Coleshill UK to acquire, for a period of 10 years, the lease of the
premises immediately opposite the existing building, thereby
doubling the space in the Group HQ and manufacturing
facilities.
In 2018, Trakm8 will relocate the manufacturing operations into
the new 1,500 m(2) premises, whilst investing circa GBP1.5 million
in automated assembly and test equipment. This investment will
increase manufacturing efficiency and enhance quality performance.
It will also considerably increase device build capacity to circa 1
million devices per annum. The bulk of this investment will be paid
for with lease finance. The opening of the new manufacturing
operation will be phased over a period of 3 months to ensure that
current production is not disrupted.
The existing building will be retained and re-organised into
purely office space, which will make it a more productive
environment and allow for the relatively modest growth of UK office
based staff anticipated over the next few years. The two buildings
are approximately 30 metres apart and so the operational benefits
of being on one site will be maintained.
John Watkins, Executive Chairman, said: "These new facilities
will support Trakm8 as it continues to grow and meet customer
demands. Demand in the second half of the current financial year is
expected to be strong as new contracts in the Insurance and Fleet
sectors deploy and the growth in the Automotive propositions scale
out. We are confident that this investment will be sufficient for
the next few years and look forward to making the most of the
improved office space and expanded manufacturing facilities."
- Ends -
For further information:
Trakm8 Holdings plc
John Watkins, Executive Chairman Tel: +44 (0) 167 543 4200
Jon Furber, Finance Director www.trakm8.com
Arden Partners plc (Nominated Adviser Tel: +44 (0) 20 7614 5900
& Broker)
Paul Shackleton / Alex Penney www.arden-partners.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Chris Lane / Tel: +44 (0) 20 7466 5000
Tilly Abraham
Trakm8@buchanan.uk.com www.buchanan.uk.com
About Trakm8
Trakm8 is a UK based technology leader in fleet management,
insurance telematics, connected car, and optimisation. Through IP
owned technology, the Group analyses data collected by its
installed base of telematics units to fine tune the algorithms that
are used to produce its' solutions; these monitor driver behaviour,
identify crash events and monitor vehicle health to provide
actionable insights to continuously improve the security and
operational efficiency of both company fleets and private
drivers.
The Group's product portfolio includes the latest data and
reporting portal (Trakm8 Insight), integrated telematics/cameras,
self-installed telematics units and one of the widest ranges of
installed telematics devices. Trakm8 has over 250,000
connections.
Headquartered in Coleshill near Birmingham alongside its
manufacturing facility, the Group supplies to the Fleet,
Optimisation, Insurance and Automotive sectors to many well-known
customers in the UK and internationally including the AA, Saint
Gobain, EON, Iceland Foods, Direct Line Group and Young
Marmalade.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
www.trakm8.com / @Trakm8
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END
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