TrenStar invests in RFID and asset track systems

TrenStar, Inc. has raised $34 million to invest in radio frequency identification (RFID) and container tracking technology. The aim is to provide better visibility and control of a company's mobile assets as they carry goods and materials through the supply chain. TrenStar will devote portions of the funding to growth initiatives including further IT development and additional asset purchases from qualified companies seeking an outsourced solution for the management of their mobile assets.

Key target sectors include the brewing, food and beverage, synthetic rubber, automotive and air cargo business segments, in which TrenStar has already established important positions.

TrenStar President and CEO Greg Cronin commented, ‘TrenStar's solution for the automotive, brewing and food industries in particular is strengthened by the supply chain services heritage of the founding companies including Trencor. We can now more aggressively develop our solutions and services and expand into new markets.’

With this funding the largest shareholders of TrenStar are Trencor Limited, The Carlyle Group and the Leede Companies.