RICHMOND, British Columbia (June 5, 2002) – SmarTire Systems Inc., which develops tire pressure and temperature monitoring technology, said it is in favor of the recently approved National Highway Traffic Safety Administration (NHTSA) ruling regarding tire pressure monitoring as required by the Transportation Recall Efficiency, Accountability and Documentation (TREAD) Act.
Originally expected in November 2001, the ruling requires installation of tire pressure monitoring systems (TPMS) in passenger vehicles and light trucks beginning November 1, 2003. SmarTire has worked to develop a marketing program to satisfy product demand created by this ruling.
The company has signed a memorandum of understanding with Visteon, a global auto parts supplier formerly owned by
Ford Motor Co. to co-develop and market TPMS for OE car manufacturers.