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Theft-detection technology gets Volvo backing
28th February 2008, Page 9
28th February 2008
Page 9
Page 9, 28th February 2008
— Theft-detection technology gets Volvo backing
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VOLVO 11AS invested in a hightech truck-theft detection system awaiting a patent in Sweden.
It owns a stake in the firm behind the kit. When someone interferes with a trailer, sensors are triggered and can send signals to the cab, a central server or a security firm.
Volvo established its interest in the radio technology behind the invention by buying a stake in another Swedish company, Datachassi, which developed the system. Per Wessen, investment manager at Volvo Technology Transfer, says: "We foresee huge potential for this invention."
In the European Union alone, goods stolen from trucks each year are valued at £6.1bn. Volvo says the system can be retrofitted.