ABT & GLENCORE TO DEVELOP BRAKING SYSTEM FOR VOLVO HAUL TRUCK
Advanced Braking Technology Limited (ASX: ABV) has entered into an agreement with Glencore Australia Holdings to develop a heavy vehicle Sealed Integrated Braking System (SIBS) for the Volvo FMX Haul Truck. The design solution will include Intellectual Property developed by ABT and related to the proven and trusted Failsafe brake for light commercial vehicles, that has been used extensively within both the Australian and international mining sectors over many years. The parties are proceeding with the expectation that upon successful development, testing and validation of the SIBS, subject to Glencore’s approval, Glencore will consider progressive deployment of the SIBS across its fleet of Volvo FMX Trucks globally. Further, following successful validation and subsequent period of exclusivity, ABT will offer the...