Source: Advance Braking Technology announcement
PERTH, Australia – Advanced Braking Technology (ABT) Limited has entered into a Technology License Agreement with VEEM Ltd. for VEEM to manufacture and supply ABT’s specialized park brake mechanism for Thales’ Hawkei Protected Mobility Vehicle – Light project.
Thales Australia Limited (Thales) is part of the Thales Group, a world leading aerospace, defense, transport and security technology company headquartered in Paris, France. VEEM is a long-time manufacturer and supplier to the defense industry and operates a world-class manufacturing and fabrication facility in Canning Vale, Western Australia.
In May 2019, ABT was selected to provide brake related design, prototype development and testing services to Thales, which has been contracted by the Commonwealth of Australia to supply 1,100 Hawkei PMV-L vehicles as part of the LAND 121 project. For further details please refer to the ASX announcement dated May 13, 2019.
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This initial contract with Thales represented the first phase of a two-phase process, whereby upon the successful design and testing of a prototype (Phase 1), ABT would be invited to participate in the tender for the manufacture and supply of 1,100 specialized hill-hold park brake mechanisms that will be fitted to each Hawkei vehicle (Phase 2).
Following the successful design and testing of a prototype, ABT has been working closely with Thales to determine how the company was best placed to participate in the manufacture and supply phase. It was agreed that ABT would participate through a Technology License Agreement that protects its Intellectual Property and provides the best risk and return outcome.
ABT’s design solution provided to Thales includes Intellectual Property previously developed by the company, which is being utilized in the proven and trusted Failsafe brake that has been used extensively within both the Australian and international mining sectors over many years.
The entire announcement can be viewed by clicking HERE.