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Security seals maker Olimp Bulgaria inks supply contract with UK firm t42

Security seals maker Olimp Bulgaria inks supply contract with UK firm t42 Source: Pixabay

SOFIA (Bulgaria), May 18 (SeeNews) - Security seals manufacturer Olimp Bulgaria has awarded a supply contract for tracking solutions and services to UK-based container and freight security and monitoring technology developer t42 IoT Tracking Solutions following a pilot programme which involved supplying the Bulgarian state customs authority, the British firm said.

Under the programme, which lasted over 18 months, the Jersey-registered company delivered the first order for some 250 Lokies Smart Tracking Lock container padlock units to be used by the Bulgarian customs authorities, t42 said on Tuesday in a filing on the London Stock Exchange.

The contract was signed after a competitive tender that compared multiple competitor units each of which was activated and integrated with Bulgarian customs systems and operating procedures.

"We are hopeful this order will be followed by more in a long-term, mutually beneficial relationship with Olimp Bulgaria and we look forward to updating the market on this in due course," t42 CEO Avi Hartmann said, adding that the contract will help the UK-based company expand into new geographies, sectors and markets.

Olimp Bulgaria, which has been active since 1992, makes padlocks, cable seals, pipe locks as well as more complex anti-tampering seals such as Titan, Super Scut, Inner Force, Garda-N and Olilock.

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