T42 Shares Rise After Philip Morris Israel Chooses Its Product

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 [e-mail]

(END) Dow Jones Newswires

June 01, 2022 03:56 ET (07:56 GMT)

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