T42 Shares Rise After Philip Morris Israel Chooses Its Product
June 01 2022 - 4:11AM
Dow Jones News
By Kyle Morris
Shares in T42 IoT Tracking Solutions PLC rose Wednesday after
the company said that Philip Morris Israel Ltd. has selected its
products for use after the completion of a pilot program, and that
it has agreed a separate pilot program with DB Schenker.
The London-listed provider of real-time monitoring solutions for
the container and freight market said the security division of
Philip Morris Israel has selected its internet-of-things shipping
container tracking solution to help protect its shipments of high
value cigarettes. The company will now look to market its products
to other companies within the Philip Morris group, it said.
Logistics provider DB Schenker has started an initial pilot
program of T42's tracking locks, it added.
Also, a U.K. multinational IoT provider which ensures security
of supply for goods delivered by Amazon has completed a test of 200
Lokies products out of a planned 400 units, with the remaining
units now due for commercial delivery, it said.
Shares at 0732 GMT were up 1.25 pence, or 10%, at 13.50
pence.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
June 01, 2022 03:56 ET (07:56 GMT)
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