Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
December 15, 2000 01:00 AM

SmarTire sees market expanding due to TREAD act

Bruce Davis
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    RICHMOND, British Columbia (Dec. 15, 2000) — Despite accumulating approximately $25 million in losses since its inception six years ago, the management of tire pressure monitor developer SmarTire Systems Inc. is optimistic that the recall-driven renewed interest in tire safety will expand the market for the company´s products.

    ``Since August, we have seen increased consumer demand and a major shift in attitude within the automotive industry in favor of tire monitoring technology,´´ said Robert Rudman, SmarTire´s president and chief executive officer, in a prepared statement.

    ``The marketplace has quickly matured and this represents a turning point for SmarTire. With the right technology, products and partners, it is our intention to . . . capitalize on this growing market opportunity,´´ Mr. Rudman said.

    SmarTire´s latest quarterly loss — for the period ended Oct. 31 — was $1.34 million on sales of $177,305.

    Among events SmarTire cites to support its optimism is passage recently by the U.S. Congress of the Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act. Among its provisions, the TREAD Act calls for tire monitoring to be installed on all new vehicles as standard equipment by November 2003.

    In addition, SmarTire said it has a strategic alliance with TRW Inc. to provide tire monitoring systems for the replacement and original equipment markets and also is preparing to finalize a joint development and supply agreement with Honeywell Inc.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Tire Discounters grows again, adds Skip Cottrell's
    2
    Icahn-owned Auto Plus files for Chapter 11 protection
    3
    Truck sector leads U.S. tire market; consumer down
    4
    K&M welcomes dealers to annual conference in Vegas
    5
    Black's Tire Service holds leadership conference
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION