SmarTire shareholders ratify
Bendix acquisition of assets
Aug 20, 2009 2:48 PM
Bendix Commercial Vehicle Systems LLC, a member of the Knorr-Bremse Group, announced that the agreement to acquire select assets of SmarTire Systems Inc was formally ratified by the shareholders of SmarTire Systems Inc. Shareholder consent for the sale—which took place during an Aug 11, 2009, shareholder meeting for SmarTire Systems—was the final step in the approval process for the agreement, which was signed in December 2008.
The acquisition enables continued expansion of the Bendix electronics business portfolio, complementing other safety technologies such as Bendix Wingman Active Cruise with Braking (ACB) and Bendix ESP Electronic Stability Program.
SmarTire Tire Pressure Monitoring System (TPMS) by Bendix CVS—also marketed as SmartWave TPMS—is enhancing Bendix chassis-based safety components. The system, released at Volvo, Navistar International, Caterpillar Inc, and available through PACCAR Parts, monitors the pressure and temperature of each tire on a commercial vehicle to provide real-time tire status information. It also warns the driver of tire-related problems before they become dangerous.
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