Industry News
Torotrak signs new licence agreement with unnamed bus and truck manufacturer
20th December 2007
Following the statement on 27th November included in the UK toroidal automatic transmission developer Torotrak plc’s half-yearly results that it had signed a MOU with “a major European truck and bus manufacturer”, Torotrak has now signed licence and engineering development agreements relating to the use of its full-toroidal traction drive technology in this client’s commercial vehicle range. The total value of the licence fee and subsequent payments relating to the engineering development agreement is over £7.0m, with more than half of this sum being payable during this financial year.
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