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ADVANCED BRAKING TECHNOLOGY LTD — Capital/Financing Update 2016
May 8, 2016
64282_rns_2016-05-08_727952d0-5c9d-49d0-95a8-81bdb0698abb.pdf
Capital/Financing Update
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ASX RELEASE 9 May 2016
ABT reaches milestone with first orders for new SIBS® Polymer brakes
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Major mining company orders SIBS® Polymer brakes for fleet of Toyota Landcruisers ahead of June 2016 launch
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Patented new features deliver superior braking performance
Advanced Braking Technology (ASX: ABV) (‘ABT’ or ‘the Company’) is pleased to advise it has received it’s first commercial orders for the revolutionary new off-road polymer range of sealed SIBS® brakes.
Following the news earlier this month that SIBS® Polymer brakes will be available for Toyota Landcruisers in June 2016, a major Australian mining company has placed an initial order of 20 brake sets, with a further 70 sets required over the next 18 months.
As detailed in the Company’s ASX announcement dated 3 May 2016, the patented SIBS® Polymer brake represents a substantial step forward in sealed braking technology delivering exceptional durability in the harshest of conditions. The revolutionary light weight casings of the SIBS® Polymer brakes are made of glass reinforced polymer, reducing both the weight and the cost of the brake.
ABT’s Managing Director, Graeme Sumner commented, “We are very excited that orders of the SIBS® Polymer brakes are already being taken, ahead of the release date in June. Field trials with up to 10 of our clients are continuing and we look forward to launching other models for the polymer range throughout the year.”
ENDS
For further information, please contact:
Mr Graeme Sumner Chief Executive Officer Advanced Braking Technology Ltd Telephone: +61 (0) 447 275 998
About Advanced Braking Technology Ltd
Advanced Braking Technology Ltd (ASX: ABV) develops innovative braking systems, with its main product being the Sealed Integrated Braking System (SIBS®), a comprehensively patented Australian invention, now used widely in light commercial vehicles, primarily in the mining industry.
Page 1 of 1 Advanced Braking Technology Ltd (ACN 099 107 623, ABN 66 099 107 623) Email: [email protected]